Bulk Purchase Condos

[William Hamburg]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Cave Creek.

Purchase price: $2,244,000
Cash invested: $75,000

Purchased 22 condos for an avg. of $102,000/unit in December 2020.
Avg. Monthly Rents $24,000.
Converting to Section 8 would increase rents to Avg. $33,000/mo.
Receiving offers between 161,000-168,000/unit
Current equity if we sold project today: $1,300,000
Just turned down an offer for $3.55M.
86% CoC return annually