E107 Easiest Way to Add Income and Value to Your Building
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In E107 of REI Hot Seat, Andrew Hines, Brad McCrae, and David Hoshof discuss strategies for adding value to multifamily properties.

They explore how features like storage units, parking fees, and utility cost recovery can significantly increase a property's value by improving its net operating income (NOI) and leveraging cap rates.

They emphasize the importance of simplicity and starting with easily implemented changes, such as charging for parking, installing storage lockers, or passing on utility costs to tenants.

These adjustments often yield a high return on investment without extensive work.

The hosts encourage property owners to examine their portfolios for overlooked opportunities to maximize income, even on seemingly minor additions.

They also note that consulting experts and building a knowledgeable network can support strategic planning and long-term value growth in real estate.

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E107 Easiest Way to Add Income and Value to Your Building?

1:24 - Parking Revenue Opportunities

5:57 - Implementing Storage Solutions

14:46 - Utility Cost Recovery Tactics

19:39 - Calculating Value-Add ROI

23:10 - Cap Rates and Market Ranges

26:26 - Practical Tips for Multifamily Investors

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.