When purchasing investment real estate, particularly in Cleveland, it's crucial to be mindful of potential surprises, especially during major renovations. For instance, a recent post highlighted a new investor who found themselves 20% over budget right at the beginning.
Major renovations tend to incur additional costs, especially in older properties. Understanding the scope of the renovation from the outset is key to saving money and increasing profits for our clients. By ensuring that our clients are well-informed, we achieve expected expenses in 99.5% of cases, avoiding prolonged and expensive renovations.
Efficiency is paramount in real estate investments. We aim to complete renovations in 4-6 weeks and have properties leased within an average of 18 days. This strategy not only boosts our clients' profits but also ensures a swift turnover of investments, allowing investors to move on to the next venture quickly and securely, minimizing risks.
With over 1200 properties under our belt, we've witnessed firsthand the financial impact of extensive renovations. For expert guidance on real estate investments, contact Brett at Key Realty and Property Management at 216-703-5740.
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