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Whether you invest in multifamily or other commercial properties, if you’re investing for cashflow, you’re going to want your property to attract tenants. The design and function of a property goes a long way in enticing potential tenants. Updating your property with latest design trends and practical features can also increase the value of your investment.

This episode, we talk with Alex Rios. As President of Rios Architecture, Alex has worked on many projects in many asset classes, including office, commercial, medical and multifamily. Lately, he has been actively involved with several multifamily projects around Tampa Bay, including several McKinley developments.

Alex knows that, for cash-flowing investment properties to attract tenants, they need to feature things that people will want. If you want to increase your property value and attract desirable tenants, staying up-to-date with current design trends is important.

Here are some of the hot design trends that can increase the value of your investment property!

• Apartment investors looking for ways to make their property stand out to tenants
• Tight multifamily market has led investors to look at value-add opportunities

Hot Design Trends

• ‘Sophisticated’ look
  • Invest in palette, not singular items
• Colors catering to relaxing environments
  • Light blues
  • Light greens
  • Accent colors
• Floor materials
  • Luxury Vinyl Tile (LVT) mimics look and quality of wood, durable
• Amenities need to cater to what your desired tenants want
  • Urban lifestyle trends very strong market
  • Digital/online age demands accessible internet
  • Pet accommodations
  • Encourage social interaction
  • Home office flexibility
  • Accessibility and walkability are important features

Investing for the Future

• Plan for changes with new technology
  • Electric cars
  • Automated transit
• Manage your construction costs
  • Account for high labor demand
  • Costs for new development materials

Contact Alex

By email: alex_rios@riosarchitecture.com

Website: riosarchitecture.com

The post Ep. 135 Alex Rios: These Hot Design Trends Can Increase the Value of Your Multifamily Property! appeared first on Real Estate Investing in Florida.

Don’t miss a single show!

Time is money. Property managers spend a lot of money on their time and this is true whether they are managing residential, multifamily or commercial properties. Often times, property managers may get caught up in the timing of things, letting their financial records and organization fall by the wayside. Not only does this cause added stress on the property manager, but it can also hurt the value of a property. When it comes time to sell a property or to refinance, proper financial details mean everything in determining how much the property is valued at.

Dan Pepper knows the importance of organizing and recording all the financial details of a property. Through his company, Palm Companies, a combined investment and property management firm, Dan oversees 190 multifamily units with nearly 50 units managed by Palm. With so many factors to keep track of, paying attention to financial details has become imperative in streamlining property management efficiency. This episode, Dan shares what he has learned about managing properties effectively and increasing property value by organizing and tracking financial details.

• Automated Property Management Systems

  • streamline record keeping, bill pay and rent collection
  • Appfolio – good mid-market, fully-integrated automated system; 80+ units
  • Import photos or scans of bills for services and expenses into an easily accessible database

• Capitalizing Expenses vs. Annual Expenses

  • Clearly define and categorize expenses that are capital improvements and what are annual expenses
  • Buyers can reconcile their investment concerns with detailed records
  • Lenders can asses precise values on properties
  • If unfamiliar, google search “capitalizing expenses”

Dan and Palm Companies are focused on multifamily properties ranging between 30-150 units in Southwest Florida. They focused primarily on property management ventures currently, but are open to viable multifamily deals. Palm Companies also has an interest in retail investments. Check out their website for more information.

The post Ep. 101 Dan Pepper: Increasing the Value of Your Property by Paying Attention to Financial Details appeared first on Real Estate Investing in Florida.