3 Affordable Ways to Add Value to your Multi-Family Property with Matt Faircloth

Hey Bigger Pockets,

For this video we’ll take a look at how you can use these 3 simple steps to increase the value of your multi family unit by using “Forced Appreciation”.

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Tip #1: Add Storage units that you can offer to your tenants. By taking out the time to find and designate a location on your property to build out a storage unit, you automatically add an EXTRA perceived value from your tenants. Most tenant use storage as their units aren’t usually big enough to house everything that they own. By having a spot on site, you can entice tenants to move their storage over to your building. Even if tenants don’t use the storage units they’re usually willing to pay an extra $30-$40 dollars to have the option of using it.

Tip#2: Have a Security Surveillance System on site. This won’t necessarily add to the bottom line of what you can charge tenants each month. Although it will give both you and the tenant more peace of mind. The tenant will feel safer and you will be able rest a little bit easier at night, knowing that you can also keep an eye on your investment. Camera systems are available in wired and wireless set ups and even have apps that connect to your phone. Check in on your property from in anywhere in the world. Now that’s peace of mind.

Tip#3: Add a Washer and Dryer Unit to your property. Most units aren’t big enough to have a washer and dryer in the unit, which means our tenant will have to find a local laundry mat or go to a friends house to do their laundry. By having a unit on site you can charge a little bit extra per month for rent and you also get to collect off the money you make from tenants using the actual washer and dryer units. These units are a relatively cheap investment for the return that they bring, not only to your bottom lined but “Forced Appreciation” as well.

Tips and Takeaways
Add Storage Unit for Tenants
Add Surveillance System
Add Washer and Dryer Units

Hopefully these small tips can provide you with a big return. To learn more about Matt Faircloth and Biggerpockets.com Visit the links below.

As always, please email us any real estate questions to HelpMe@DeRosaGroup.com and we will answer them on an upcoming episode!

Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/
Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast.

Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/

Видео 3 Affordable Ways to Add Value to your Multi-Family Property with Matt Faircloth канала Derosa Group