Construction is a big part of adding value to a property. Our guest today, Oliver Fernandez, is an expert on elevating value-add properties with construction. He is a successful entrepreneur who has completed over 80M in construction contracts and invested over 150M in Real Estate.
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Oliver starts by sharing he is from Washington DC and he started his real estate business by constructing row homes and apartment buildings there. He discusses the process of how they are adding value to the properties by tackling it outside, buying materials in bulk, and finding the right people for the job. He also emphasizes the importance of keeping the focus on as there are many opportunities out there. Listen now and learn how you can elevate value-add properties today!
Key Points From This Episode:
- Oliver talks about his background and his superpower in real estate syndication.
- Oliver explains how they elevate value-add properties through construction.
- How to analyze construction plans per deal?
- Why is it important to focus on the outside or facade of the project first?
- How do Oliver asses which unit to tackle first and create the plan to turn the units over?
- How many employees does it take to turn over 6 to 10 units per month?
- Why does Oliver like multifamily?
- How does Oliver ensure that all the materials for construction are available?
- Material and labor are the major concerns in the construction industry.
- Try to use as many resources as you can.
- What’s the most important metric that Oliver tracks?
- Showing up is the habit that helped Oliver achieve success.
- The number one thing that brought success for Oliver.
- How does Oliver like to give back?
“As we look at the units, we wanna actually take care of the low-hanging fruit first. From an interior standpoint, if there’s a unit that we can go in and spend $5,000 that the previous owner maybe didn’t have the money to renovate or they don’t wanna spend that money because they just want to transition out of the property, we wanna tackle those first.”
“By the time we’re done with the easy stuff, we’ll have the material for the hard stuff.”
“The reason why I like multifamily is that it was already generating income. We want the tenants that are there to stay there and continue to produce for cash for us. We oftentimes will update the units where tenants are moving out.”
“To find the good people, oftentimes, you got to pay big money for them.”
“There are so many opportunities out there, we just got to keep our focus on.”
Links Mentioned in Today’s Episode:
About Oliver Fernandez
Oliver Fernandez is a successful entrepreneur who has completed over 80M in construction contracts and invested over 150M in Real Estate.
He has been named contractor of the year, and is on a mission to help other top contractors to do the same!
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