Apartment Remodel - Pro Tips For Landlords Ep.1

In a rent-controlled world, how do you collect above-market rental rates when there is a Rent Cap in place? The truth is, you can't...unless you vacate a unit legally by completing "substantial improvements."
How do you determine if a unit warrants substantial improvement? We will discuss that very question over the course of this new video series.
In this first video of our 3 part series, I walk you through the units prior to demolition and outline those items we look to improve that will enable us to obtain above market rents, and allow us to push the value of the property well beyond average property values in the area. Watch now as I attempt to assist those owners who avoid unit renovations because they assume the process is too much hassle, they do not have the "know-how," fear that the process is too costly, or incorrectly assume the final payout does not justify the capital investment.
What is my goal? Bottom Line - I want to help landlords obtain maximum cash-flow (especially in a rent-controlled market). In my opinion, owning multi-family investments should be extremely financially rewarding, while at the same time not be overly consuming of your time. Second, by completing these types of improvements, when it is time to sell, a buyer will happily over-pay for your property because your rental rates & the condition of the property justifies above-market pricing!!!

[@gerardof71]

These are helpful for me. I have an old apartment unit that I'm upgrading little by little. Thank you Kris.

[@uscrene]

Great video! I’ve done about a dozen of these substantial remodels in Coachella Valley and they are well worth it.

[@tillygirl7450]

PLEASE leave the closet layouts - broom and linen closets. ESPECIALLY, the broom closet 10:24 - you can put the vacuum cleaner, buckets, etc. or the tenant can switch it out with install a flexible spring rod for winter jackets, etc. Love these older building layouts, lots of square footage, LOTS of closet spaces, mostly nice layouts and lots of electrical outlets. Though, they do need electrical to be updated. Great informative video.

[@Martin-Young]

Excellent video Kris! I am also doing an entire renovation on my triplex in the IE. Can't wait to see Ep. 2 soon. Keep up the great work!

[@superdupert6]

Very good tips and info, thank you. First question: Why not upgrade to a tankless water heater? And 2nd question: are each of the bedrooms getting wall a/c units while the living room is getting an inverter type a/c which also delivers heating? Which means three a/c units per house?

[@raulramos7561]

12:41 you know damn well what’s gonna happen to that his and hers

[@RaisedInTheProjectz]

Are you from that neighborhood?

[@chavezsalim]

Hi im Rene c. I'm remodeling house here in Dallas tx and I'm vendor looking here to remodeling apartments if have any recommendations company here please I really appreciate it thanks..