EP294 Five Must-Know Steps to Renovating a Multifamily Apartment Property with Ken Gee

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By Brian Hamrick and Rental Property Owners Association with Brian Hamrick. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

One of the most lucrative ways to invest in real estate is to find an underperforming, tired multifamily property and bring it back to life through better management, renovations, and capital improvements. I’ve done this myself many times and have added exponential value to the property and investment.

My guest today is going to share with us the five most important steps you must follow when renovating a multifamily apartment property. He’s also going to tell you what to look for in an investment sponsor if you’d prefer to invest passively in these types of opportunities.

Ken Gee is the founder and managing partner of KRI Partners and the KRI group of companies. He has over 24 years of real estate, banking, private equity transaction, and principal investing experience. He’s also been involved with transactions valued at over $2 Billion dollars.

Today Ken’s going to take us through the five most important steps his team takes when acquiring and improving a multifamily apartment project, the importance of understanding the market you’re investing in, the amenities he likes to add, and why you should wait at least 30 days before beginning any improvements.

We’ll also discuss the three things you should look for in a sponsor you might invest with passively, including their track record and the way they prioritize their investors.

Ken shares a lot of valuable information and experience in today’s conversation. You can find out more about Ken by reading his free ebook at https://www.kripartners.com/ebook/ or email at kgee@kripartners.com

Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area.

https://www.livegreenlocal.com

And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits.

https://www.rcbassociatesllc.com

322 episodes