E103 Can a Few Strategic Renovations Transform Your Investment into a Million-Dollar Asset?
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In E103, Andrew Hines and David Hulshof discuss a unique investment opportunity involving a purpose-built 12-unit building in London, Ontario.

They explore the challenges and strategies of repositioning such properties, focusing on tenant turnover, cash-for-keys negotiations, and strategic renovations to increase market rents.

The episode emphasizes the importance of having a detailed financial model, understanding risk, and the role of effective tenant management.

David and Andrew highlight how turning a few units can provide flexibility, allowing time to address remaining units, ultimately aiming for a significant value uplift.

While the deal offers potential returns of over a million dollars, they note it is suited for experienced investors prepared to invest time and capital into managing tenant transitions.

The discussion underscores the evolving dynamics in real estate investing and the need for a hands-on approach in certain market conditions

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E103 Can a Few Strategic Renovations Transform Your Investment into a Million-Dollar Asset?

1:17 - Purpose-Built Deal Overview

2:33 - Challenges with Low Market Rents

5:46 - Cash for Keys Strategy

7:45 - The Role of Property Management

10:11 - Renovation Budgeting Insights

12:00 - Calculating ROI and Valuation Lifts

15:02 - Risks and Rewards of Tenant Turnover

17:32 - Targeting Market Rents and Exiting Strategies

18:31 - Is This Investment Right for You?

Disclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision.

Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively.

His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.