Just Closed- First Development Project
Hi All,
I've been a multifamily investor for the past 4 years. With each deal, I have syndicated them in some way shape or form. They have ranged in size from my first 20 unit which was bought and sold recently to 70 units in Florida. With each, the opportunity has been around looking to build value through either physical or operational improvements.
I'll always see the value in traditional multifamily investing and think there is no better way for long term wealth building. With that said, being able to develop a project has been a dream of mine.
As a first step towards that goal, yesterday I closed on a 7 unit high end condo project for $1,000,000 on the ohio river, overlooking downtown cincinnati. The building already exists and one unit was fully completed and the other 6 are basically down to the studs. This was a stalled project purchased as a short sale that we plan to bring back to life and sell within 12-18 months.
Just wanted to make the announcement and put myself out there to share whatever details the BP community would like to hear about the deal.
-Josh