Multi-Family and Apartment Investing

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Elijah Vo
  • Investor
  • Fort Worth, TX
51
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59
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How we created value!!!

Elijah Vo
  • Investor
  • Fort Worth, TX
Posted Jun 21 2022, 13:39

⚠️$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.

Fort Worth, Texas

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Alex Ramirez
  • Rental Property Investor
  • Houston, TX
125
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153
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Alex Ramirez
  • Rental Property Investor
  • Houston, TX
Replied Jun 21 2022, 15:58

@Elijah Vo I totally agree with you. I personally bought a 12plex not long ago in a tertiary market in the Houston area and rents were being charged at an average of $500 from the previous owner. He owned the property for about 20 years. After rehabbing the first four units, we were able to rent them out for an average of $900 and we have a waiting list. We are adding massive value to this property. Can’t wait to refi in a few months. Let’s connect. Looks like we don’t live very far away

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Nathan McIntire
  • Investor
  • Detroit, MI
40
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96
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Nathan McIntire
  • Investor
  • Detroit, MI
Replied Jun 21 2022, 17:46

Great Post @Elijah Vo. Congrats on your new acquisition. 

User Stats

59
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51
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Elijah Vo
  • Investor
  • Fort Worth, TX
51
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59
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Elijah Vo
  • Investor
  • Fort Worth, TX
Replied Jun 22 2022, 08:40

@Alex Ramirez IKR?! People are drawn to primary markets, but there's value in secondary and tertiary markets too. 

User Stats

59
Posts
51
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Elijah Vo
  • Investor
  • Fort Worth, TX
51
Votes |
59
Posts
Elijah Vo
  • Investor
  • Fort Worth, TX
Replied Jun 22 2022, 08:43

@Nathan McIntire Thanks bud, but this wasn't too recent...we purchased this property about 2yrs ago...I just wanted to show how we brought some value to it.