How we created value!!!
⚠️$350?! That's a hellava a deal!!!⚠️
Why do we buy assets in secondary & tertiary markets?
First off, we can find true value-adds. That is, assets that have been owned by the same mom-and-pops for 10-20yrs and not been updated.
Second, substantial rent increases. This picture was a sign that was posted at a property we acquired in a small, but growing city in AR.
The comps around it supported $600-700, but this one had $350-$400 rents.
There are many flavors to this game, but don't let smaller markets scare you away from investing in these diamonds.
✔️Look at the team's experience & track record.
✔️Dig into their business plan.
✔️Ask tons of questions.