Converting Vacant Office Space to High Income Residential Rentals with Beth Kromner

<p>Welcome to ladies The Real Estate InvestHER Show! In this episode we dive into the potential of turning vacant commercial properties into residential units with special guest Beth Kromner. Beth has had a successful career in coaching, mentoring, and leadership in large corporations and start-ups. She also has extensive experience in property financing, purchasing, and management, holds a Masters of Public Administration in Housing, and was a Peace Corps Volunteer in Ecuador. Beth currently owns and manages multiple properties with her company VADU (Value-Added Dwelling Unit), including ADUs, in the Bay Area and Sun Valley, Idaho.</p><p>&nbsp;</p><p>With the Covid crisis leaving many office spaces empty, there is an opportunity to turn these properties into rental units. Beth shares her experience leading a mastermind session on raising private money and how it can be used to bring equity and commission into projects. She also provides tips on what type of properties to look for, such as mixed-use buildings and those located in downtowns or smaller cities, and how to find the best areas that offer the most opportunity. Furthermore, she explains how inflation and interest rates are important factors in this venture, as well as offers advice on how to navigate building codes and regulations in different cities and understanding zoning laws. She also shares a story about an investor in her network who leveraged her knowledge to create a win-win situation for herself and her client. Lastly, Beth discusses Oprah Winfrey's story of resilience, Michael Singer's book Living Unattached, and the importance of living with gratitude. </p><p>&nbsp;</p><p>Tune in to hear about the current opportunity for real estate investment in downtown locations; understand the benefits of turning existing commercial real estate into residential properties; learn tips on financing such projects; and gain wisdom from Beth's own journey of making successful conversions!</p><p><strong>&nbsp;</strong></p><p><strong>Quotes</strong></p