- Madison WI
- Votes |
Closed An Off Market 16 Unit
Hey BP'ers! Just wanted to share the good news. This last year was absolutely crazy for me with business and personal stuff but things have started to turn around!
Through calling property owners throughout the Madison area I ended up getting a lead on a 16 unit out in Fitchburg WI. We closed on it last month and have already started getting rents bumped!
Purchase Price: 1,800,000.00
Units: 8 3 Bedroom/1 Bath, 8 1 Bedroom/1 Bath (but with 2 rooms finished in the basement for each).
The property was conservatively under rented by about $3500 a month. We are projected to increase rents significantly over the next year.
I guess when you put in the work, good things happen.