Practically a hand in hand relative that works with the buy and hold strategy, renovating to improve investors essentially buy underutilised and undercapitalised investments to make use of their unrealised potential to provide more rental income.
These types of properties could include some things like;
Upgrading and updating a property to attract better quality tenants and more rent
Properties that either have an existing or easily altered floor plan to allow for multiple tenancies – For example, converting a big house into separately leased rooms or splitting a large, single use commercial property into smaller sections
Making use of big land size – For example, building a granny flat in the backyard
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