Value add by rehabbing while still tenant occupied

[Phillip Tamez]

Hey BP! So I have a question I’ve been talking with my wife about and trying to find the best way of doing this. So let’s say I bought a 4 plex that’s still tenant occupied, some still having a long time left on their lease. My question is, what/when’s the best way to rehab the property knowing you want to add value but tenants won’t be leaving for a while?

If anyone has done a deal like this I’d love to hear the solution you used. Did you do unit by unit as the tenants moved and raised rents accordingly or is there another way of doing this?

Most duplexes, tri’s and quads I see aren’t exactly turnkey and need a decent amount of work. Any insight would be appreciated!