Methodical Process in Executing Value-Add Projects
The execution of value-add strategies acts as a primary component of CARROLL's business model. The consistent success is a result of the methodical process CARROLL employs to select and transform properties equipped with the potential to grow within the economic parameters of the market.
As new product arrives daily in submarkets, a detailed and proven plan for existing product renovations to compete is increasingly important. Finding a great property with the discernible space for growth is crucial and pricing the right scopes is paramount; however, executing our process to a tee as quickly and efficiently as possible ultimately delivers the value to the rent roll and the investment. So, how do we ensure we deliver every time both on budget and with superior quality? It takes teamwork, a methodical design-scope-bid process, onsite and construction expert collaboration, and a superior marketing plan communicating the whole improvement.
While the goal of this process remains the addition of capital to these units and upgrading the resident lifestyle, this comes with an economic buoy we must maintain. Once you’ve targeted a deal that could use a lift, how do you sustain the necessary balance?