Accelerated Real Estate Investor 255: Van Sturgeon on The Art of Renovations and Increasing Your Property Values
Once you’ve done the deal and purchased the property, that doesn’t mean your work is done. Your 20, 50, or 80-unit building may be new to you, but it’s likely distressed.
If your new property hasn’t been updated in many years, then it’s time to build a game plan to meet your goals, maximize your profits, and ensure your tenants have great, safe places to live in.
That’s why I’m excited to share this interview with my new friend, Van Sturgeon. Van has over 30 years of investing experience and personally owns over 1,200 properties across North America. Throughout his career, he’s focused on the art of renovation. He’s renovated thousands of homes and commercial properties, written several books, and published in a wide variety of media outlets.
In our conversation, Van walks me through his strategies to rehab, renovate, and transform distressed properties sustainably. You’ll learn how to smartly allocate your CapEx budget, the traps that so many first-time buyers fall into when making renovations, and the key elements to making your first multifamily deal a great one.
Key Takeaways with Van Sturgeon
- How to use realistic goals to craft a smart and sustainable renovation strategy.
- How to create a needs and wants list to determine where your CapEx spend belongs.
- The importance of not only walking through your buildings, but your competitors’ buildings as well.
- The most common mistakes for first-time real estate investors.
- Overcoming the unique challenges of trying to plan and manage renovations remotely.
- Why building long-term relationships is so critical to finding great deals and making them work.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/255
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