Key Takeaways
- Advanced scenarios (gut, historic, conversion, adaptive reuse) offer 25-40% returns but with significantly higher risk.
- Investors should complete 5-10 standard renovations before attempting advanced scenarios.
- Advanced planning adds feasibility studies, environmental assessments, and specialized financing structuring.
- Additional planning cost ($10K-$50K) and time (2-6 months) are necessary to manage the elevated risk.
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Test Your Knowledge
1.What returns do advanced renovation scenarios typically offer?
2.How many standard renovations should an investor complete before attempting advanced scenarios?
3.How much additional cost and time do advanced planning elements add?