Entryways and first impressions: Plans for our latest property

First impressions matter. They set the tone for what's to come, and in the world of real estate investment, they can make all the difference. That's why I'm excited to share some updates on our latest investment property, which has immense potential for enhancing its initial impact and, in turn, maximizing investment returns.

Entering the building

Situated in a prime location, our 1970s 71-unit property in Crystal, Minnesota boasts solid fundamentals but is in need of a facelift to bring it into the modern era. One area that immediately caught our attention was the entryway.

Currently, the entry area of the property reflects its age, with a dated aesthetic that lacks the warmth and inviting atmosphere we aim to cultivate. Upon entering, visitors are met with dim lighting that creates a sense of darkness and gloominess. The closed doors and limited visibility of the manager's office behind the far wall make the space feel closed off and unwelcoming.

Overall, the design feels stuck in the past, reminiscent of the property's 1970s origins rather than projecting a modern and updated image. But the good news is that a few simple updates to this area of the property can change these perceptions, and in turn, provide us with an even bigger return on our investment.

How we’re improving the entryway

Right now, our construction team is working on a handful of updates that will transform the entryway into a space that will reflect the quality and value of the property.

These updates include:

• Replacing the front doors with ones that have ample glass, allowing natural light to flow in.

• Updating lights and paint to create a brighter and more inviting space.

• Adding warmth through simple design elements and decor.

• Installing a window in the wall to make the manager's office visible from the entry area. (Not only will this help create an open and visually appealing front entry, it will also promote safety and transparency for residents and visitors.)

Why the entryway is vital for ROI

From the moment a potential tenant and their guests step through the front doors, they start forming opinions about the property and its perceived value. Making sure these first impressions are positive is vital for the most important questions they’ll answer in the end: Do they want to live there? And is the monthly price tag in rent worth it?

As experience has shown us, a handful of cost-effective updates can go a long way in creating the sort of environment that makes people want to say yes to these questions. With the entryway being such a high-traffic, shared space, we are excited to have these updates already underway at our latest property. (And to have similar updates underway in shared spaces like the hallways).

Stay tuned for more updates

Our team is eager to share progress updates from this property as they get underway. Each month, we plan to share details like these, as well as other insights into our approach to multi family real estate.

We also love to hear from you. If you have any questions about these updates, or if there’s something you’d like to see more of, please reply to this email, or schedule a call.

And to our investors, thank you, as always, for your continued support and investment in our properties’ success.