In the old, pre-pandemic, days, it used to be a little easier to generate value-add returns. Investors could buy a property, make some cosmetic upgrades and earn large profits.
But it's not so easy anymore.
"It's difficult to get supplies," Tom MacManus, president, MONEY360, said during a panel discussion at the GlobeSt. Apartments Spring 2021 virtual conference, held this week. "So the play to renovate and to reposition an asset today is not what it was at one time in terms of cost, timing and expertise."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
