inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/content/2022/03/68c10e0aab299f3fb939c6eb71880423681e4c0e.png
YOUR MULTIFAMILY INVESTMENT GUIDE
  • Home
  • Buy
    • Featured Listings
  • Sell
    • What our buyers are looking for
    • Maximizing Your Property Value
    • Calculate Your Property Value
  • About
    • Meet The Team
    • Testimonials
    • Blog
    • Contact
inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/logo/2020/04/2020-stiles-head-shot-no-background.png
612-584-1345
Sign In
Sign Up
inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/content/2022/03/68c10e0aab299f3fb939c6eb71880423681e4c0e.png
YOUR MULTIFAMILY INVESTMENT GUIDE
  • Home
  • Buy
    • Featured Listings
  • Sell
    • What our buyers are looking for
    • Maximizing Your Property Value
    • Calculate Your Property Value
  • About
    • Meet The Team
    • Testimonials
    • Blog
    • Contact
inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/content/2022/03/68c10e0aab299f3fb939c6eb71880423681e4c0e.png
YOUR MULTIFAMILY INVESTMENT GUIDE
inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/content/2019/08/mypv-e2-logo.png
Maximizing Your Property Value

MYPV E2 - Standardize Your Finishes

inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/logo/2020/04/2020-stiles-head-shot-no-background.png
John Stiles,08/23/2019
In order to maximize your property value you need to start treating your rental properties like a business. One way to accomplish this is to standardize your finishes. 
If each unit in your apartment has it's own unique paint color, then you're going to spend more money when it comes time for a turnover. You might need to spend time trying to match the existing paint. You might have a store room full of old paint cans that are difficult to match up.  Instead of this chaos, why not choose a color (or a set of colors) that you use for the whole building? Then if there is a repair or turnover, your painter or handyman knows exactly what to do.
It may take more time on the front end to add this to your business plan - but once it's set then things will be more streamlined.Items you can standardize could include:
  • toilets - round vs elongated. standard height vs tall
  • light switches, outlets, plate covers - white vs ivory vs other
  • paint colors and sheen - have a list for bathrooms, bedrooms, kitchens, trim, ceilings
  • flooring options - carpet, carpet pad, vinyl, etc.
  • appliance brand, colors, sizes features
  • tile - style, color, grout colors / spacing
When the above and other items are standardized you can benefit by
  • not having to make decisions about these things at each repair or turnover
  • getting better pricing through bulk purchases
  • ability to reuse extra materials left over from various repairs / projects
  • having consistent finishes so that the property looks better and more attractive. When things are mismatched it looks like nobody cares
Like what you're hearing? You can watch this episode on YouTube.

===

Like what you’re reading? You can watch the full episode on YouTube or listen on the go using your favorite podcast player. Just search for Maximizing Your Property Value.

===

Have a question about property management or real estate investing? We want to hear from you. Submit your question in video format and if your questions is featured on one of our future shows you could receive a free gift! Please keep your question under 60 seconds. If recording on your phone - please have your phone in landscape orientation. It is preferred that you share the video by uploading it to YouTube and sending the link to us using our contact page: http://www.realestatestiles.com/contact/

===

Mark your calendar for the Northstar Real Estate Conference, September 20-21, 2019. Enter discount code “STILES” to get $100 off your ticket: www.nreconference.com

===

Thanks to Todd Dexheimer for being a special guest on today's show. You can learn more about Todd by checking out his podcast: Pillars Of Wealth Creation. Find the show on iTunes or YouTube.

===

Are you wondering what your property is worth in today's real estate market? Download my free e-book that will help you calculate your property's value!http://www.realestatestiles.com/value/

Print Details
Previous post
Next post
MYPV E1 - Seller Financing
MYPV E3 - Don't Overpay!

Have a question?

Send
Submitting
Succes! Your message was sent!
Oops! Error occurred.

Search listings

Enter city, zip, neighborhood, address…
Loading in progress…
No results found
Type in anything you’re looking for
Search

Office

Bridge Realty
1101 E 78th #300Bloomington
MN 55420
612-554-7794

Resources

  • Calculate Property Value
  • Exit Strategies

Explore Opportunities In

  • Minneapolis
  • St. Paul
  • Hennepin County
  • Ramsey County

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/ODU4ZWY2NTMtNzE5MC00ZGEwLWE3NmItMWE2ZDRiZWE1NGE5/logo/2017/04/Bridge - small.jpg

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link