Manage episode 295901423 series 2942547
In this episode, I’m sharing a case study for one of our most recent properties, “54 Niles” — a 54 unit apartment building that we bought off-market for $2.43M, and could now sell for over $4M in less than a year!
The seller originally bought the building for $1.2M in July 2020 and only 6 months later, our commercial broker brought it to us with an asking price of $3M.
Find out how we negotiated a better deal, raised rents to increase value, hired a property management firm to fill vacant units, mitigated risk, and created multiple exit strategies.
If you want to get a behind-the-scenes look at our proven business model for creating million-dollar deals in real estate, you won't want to miss this video walk-through!
- How one deal can literally change your life.
- The 5-step business model we use to create million dollar deals in real estate.
- The 10 pillars of risk mitigation when buying property.
- How we negotiated the seller down from $3M to $2.43 with a contract provision to improve 34 vacant units.
- How we leveraged a 3rd party property management company to fill all vacancies — and the fee we agreed to pay them.
- The scary moment when the building's occupancy dropped from 20 to 15 units.
- Raising rents, refinancing, and paying off the existing loan.
- Having the guts (and the business plan) to buy a building that’s only 40% occupied.
- The importance of building multiple exit strategies into your deal — and how this deal could make us over $1M in less than a year.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/207
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