Multifamily Value Add suggestions

[Yonah Weiss]

I’ve recently read @Joe Fairless' awesome book The Best Ever Apartment Syndication Book, with the intention of getting more active in multifamily apartment investing. It is literally a thorough step by step process of doing this. Value Bombs on every page (of the 400+ pages). I’d like to post some discussion points for those in this space. Value-Add is a very popular strategy, which Joe takes.

Making money with an apartment building is all about creating value. Simply, the property can generate a lot more cash flow and the market value can be increased by doing any number of things.

Here's an incomplete list of value-add enhancers. What would you add?

Assigned/Carport parking 

Pet rent 

Storage units 

View/location premiums 

Automated package storage/Amazon lockers 

Wifi doorbells 

Security cameras 

Add washer and dryers 

Stainless steel appliances 

Update light fixtures 

Upgrade bathroom (cabinet, sink, shower) 

Upgrade kitchen (cabinets, sink, counter-tops) 

Build a fence around ground floor patio 

Install vending machines 

RUBS program (Ratio Utility Billing System) 

Charge for garbage pick-up 

Add a daycare 

Gym

Cost Segregation (had to add that 😁)

What would you add?

@Ellie Perlman @Brian Burke @Jeff Greenberg @Ben Leybovich @Sam Grooms @John Casmon @Todd Dexheimer @John Fortes

[Theo Hicks]

Offer furnished units

Location/view premiums

Clubhouse rental

Appliance rentals

bike rack rental

Dog washing station

Install and lease a billboard