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Tony Castronovo
  • Rental Property Investor
  • Katy, TX
529
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677
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FINALLY Closed on My First Multi-Family Apartment Complex

Tony Castronovo
  • Rental Property Investor
  • Katy, TX
Posted Aug 2 2018, 15:22

We finally closed today on our first multi-family apartment complex! Seems like such a long road after making the decision to transition out of SFH last Fall and selling off our portfolio in the Spring. I ramped up my education quickly as I knew nothing about cap rates, NOI, due diligence, etc. The pressure was really on when we elected to do a 1031 exchange. We were under contract on a property pretty quickly but after numerous extensions the deal fell apart. Thankfully, we had a good backup plan and used what we learned in the first deal to nail it on the second. Much hard work in front of us but we will celebrate tonight!

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