Why Most Real Estate Renovations Destroy Investor Returns

Most investors obsess over spreadsheets, but ignore the one decision that quietly drives rent, demand, and retention.

In this episode, multifamily investor Eliav Kling reveals how a debated $250,000 repaint transformed leasing traffic, eliminated marketing spend, and allowed rents above comps, without over-renovating.

From starting in IT to scaling value-add multifamily across the U.S., Eliav breaks down how data-driven renovation decisions, disciplined underwriting, and design restraint protect investor returns, especially in volatile markets.

You’ll learn why over-improving kills ROI, how to measure design impact, and the mindset shift separating scalable investors from emotional ones.

This conversation challenges conventional renovation thinking, and reframes design as a financial weapon, not an expense.

⏱️ YouTube Chapter Timeline (Editor-Ready)

00:00 — From IT to Multifamily: The Unexpected Path

04:40 — Buying Condos After the 2008 Crash

09:30 — Pulling All the Cash Out (The Refinance Moment)

13:40 — Why Condos Don’t Scale

17:10 — First Multifamily Deal in Chicago

22:30 — The 48-Unit Deal That Almost Fell Apart

28:10 — “There Is Always a Way” (Investor Mindset Shift)

33:40 — Why Agility Beats Big Institutions

38:20 — What Separates Good Investors in Bad Markets

42:50 — What a “Good” Return Really Is

47:10 — The Renovation Mistake Investors Keep Making

52:30 — When Upgrades Destroy ROI

57:40 — The $250K Repaint Debate

1:02:40 — How Design Replaced Marketing Spend

1:07:50 — Charging Above Comps (Even in a Down Market)

1:12:40 — Why Tenants Stay Longer

1:17:30 — Eliav’s 3 Rules for Multifamily Investors

1:26:20 — Final Advice: Discipline Beats Emotion

🎙 @eliavkling shares his thoughts and experiences, offering valuable insights.

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