James WisePoster
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The 1995 Bathroom Problem for Chicago Multifamily Buyers
James WisePoster#4 All Forums Contributor
#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
The 1995 Bathroom Problem for Chicago Multifamily Buyers
Chicago multifamily buyers need to look past the current rent roll and think about what happens when long-term tenants finally move out. In this video, James Wise breaks down the “1995 bathroom problem”—dated units, old vanities, tired fixtures, paint, flooring, and the normal rent-ready renovation costs that can hit you before you can push max rent. If you’re investing in Chicago, Illinois multifamily real estate, don’t just underwrite today’s cash flow. Underwrite the future turnover, the rehab, and the real cost of getting those units rent-ready when your long term tenants finally move out.
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Chicago, Illinois