Kent He strategically increased his affordable housing unit's rent by $550 a month after adding a bedroom, highlighting the advantage of value-add investments for stable income.
By converting a three-bedroom into a four-bedroom and investing about $41,000, Kent He raised the expected rent from $700 to $1,257. This increase reflects the potential in enhancing property value through smart renovations.
He emphasizes that while tenant payments are capped at a percentage based on income, effective strategies in property management and renovations can lead to enhanced cash flow amidst fluctuating market conditions.
Kent underscores the significance of understanding tenant needs and property features, noting that two bathrooms often rent more easily than one, thus driving his decision to maximize space and amenities.
#affordable-housing #real-estate-investment #value-add-strategies #cash-flow-management #airbnb-management
Collection
[
|
...
]