This book by Dave Lindahl is about repositioning Apartment buildings. This is truly one of the better books on real estate investing that I have read. While its primary focus in multi-family buildings, it has tremendous value for single family home investors also. Dave Lindahl got his start renovating single family properties and doing small 3 unit multi-family properties.
What is Repositioning
For those unfamiliar with the commercial property business a repositioning would be the equivalent of rehabbing a single family home. Rehabbing a single family home is usually done on a vacant property. When the property is complete it is sold to a homeowner or landlord. Repositioning is generally a more complex process. It can often be done with tenants in place. Usually some renovation is required but it is more than just renovation It is often also about upgrading the tenants, management and the Position of the property in the marketplace. (By the way one of the best books on Marketing is called Positioning: The Battle for Your Mind Repositioning apartment buildings is in part applying it’s concepts)
Multi-Family Millions is Full of Tips
This book is full of tips. My copy is full of yellow highlighted pages. Many of these tips apply to rental properties of any size. One example would be his suggestion to offer tenants to paint an accent wall for an extra $20 a month. Or how about this tip
Replace faucets. Do not be cheap here! Inexpensive faucets are a maintenance headache, and end up costing you more overall. Get ones that are distinctive and elegant. Here’s my rule: If the tenant has to touch it regularly, make it special.
The book has advice on finding deals, working with contractors, smart renovation tips, financing your deals, negotiating and much more.
Who is Dave Lindahl
Dave invests in apartment buildings around the country. He started small. His first rental was a 3 unit building in a depressed area. He now has over 5,000 units, so he know what he is talking about.
Who Should Buy this Book
Anyone who wants to invest in apartment buildings would find this to be a wonderful book. Yet there is value to single family home landlords, and rehabbers. As I said above this is one of the better books I have read on real estate investing. In addition to really solid information it is well written, easy to read and easy to understand. Just as importantly it is not full of irrelevant fluff like so many investing books. I recommend this book highly. You can buy it from Amazon at a great price here. Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits