The 5 Steps to Renovating Multifamily Properties With Ken Gee

<p><span style="font-weight: 400;">Axel interviews Ken Gee, founder and managing partner of KRI Partners, to talk about the five crucial steps you must take to renovate your multifamily properties. </span></p> <p> </p> <p><span style="font-weight: 400;">There is a profitable way to invest in real estate, and that is finding a tired multifamily property and putting life back into it through good management, capital improvements and</span> <strong><em>renovations</em></strong><span style= "font-weight: 400;">. By doing this, you are adding exponential value not only to the property and investment but to someone’s life too.</span></p> <p> </p> <p><span style="font-weight: 400;">In this episode Ken and Axel dive deep into the five most important steps you must take to renovate successfully a multifamily property: the first three are a must and refer to a depth-in market study - your entire business plan is based on this step -, the determination of a renovation budget and a “sit on your hands” period. The other two refer to the importance of making an outside-in renovation approach and being willing to reassess the plan as you walk through the renovation.</span></p> <p> </p> <p><span style="font-weight: 400;">Furthermore they talk about how to handle renovations in common areas and why Ken choses the exit strategy of holding on to the property for three or five years. </span></p> <p><br /> <br /></p> <p><strong>SUPPORT US ON PATREON!</strong> <a href= "https://www.patreon.com/realestateeffect"><span style= "font-weight: 400;">patreon.com/realestateeffect</span></a></p> <p> </p> <p><span style="font-weight: 400;">BECOME A PART OF OUR REAL ESTATE FAMILY AND INNER CIRCLE and:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Help us to keep producing content</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Get mentioned in an episode and YouTube</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Pa