BCF 344: The Art of Renovation with Van Sturgeon

Picture this: it’s the day after closing, after that long sprint, and you finally purchased that property. You might think your work is done but, in fact, you’re just getting started. Although the building may seem new to you, it’s most likely distressed, probably mismanaged, and you could have inherited some unruly tenants that are just waiting to call you. If the property hasn’t been updated in many years, you need to come up with a game plan to meet your goals, maximize your profits, and ensure your tenants have a great place to live in.

Van Sturgeon has over 30 years of real estate investing experience and personally owns over 1,200 properties across America. Throughout his career, he’s focused on the art of renovation. Van’s renovated thousands of homes and commercial properties and has written several books and is published across well-known media outlets. He shares his strategies on how to rehab, renovate, and transform distressed properties to make them truly great. It all comes down to allocating your CapEx budget properly, sinking money into the right upgrades, and building the overall value of the asset so you can refinance and pull the cash out or sell it for top dollar. Van shares his real estate story, starting from the beginning. We discuss some of the biggest mistakes investors make when it comes to value-add and how you can avoid them. Van also shares what to do when you’re doing your first walkthrough of a new property, taxes, identifying what renovations to make, and much more.

What’s Inside:

—Van’s journey and how he got into real estate investing
—Common mistakes multi-family investors make
—Renovations with the best ROI
—Elements of a successful value-add strategy

Mentioned In This Episode:

—bulletproofcashflow.com: https://bulletproofcashflow.com/
—RDYNE.com: http://www.rdyne.com
—VanSturgeon.com: https://vansturgeon.com/