In this episode of The Multifamily 5 Podcast, Mark speaks with Ira Singer, principal at Mosaic Construction in Chicago, about the low-disruption, high-impact renovation investments that provide the best ROI for multifamily properties.
We discussed in depth the Return-on-Income (ROI) timeline for common multifamily facility improvements, and how these renovations are carried out safely during active shelter-in-place orders. He also goes on to tell us more on commercial renovation techniques ultimately making buildings more competitive in this ‘new normal’, as well as what he says are the best renovation investments to make today to drive rent increases post-pandemic. He cautioned, though, on avoiding the temptation of over-improving a buildings’ asset class.
For multifamily property owners that can ride out the COVID-19 storm, renovation can make significant and rapid contributions to profitability for investors over the longer-term.
Mosaic Construction specializes in renovating commercial and multifamily spaces. Ira can be reached at: email@example.com or via LinkedIn.
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