First apartment investment paid off!!!
Hello BP!
Exactly one year and one month ago I handed a check for $50,000 to a deal sponsor of a 205 unit apartment complex. It was a "value play" with an increase of NOI and refinance in the second year.
A little over a year after the purchase the apartment got refinanced with a Fannie Mae loan and today I got a first distribution check for a little over $25,000. I still have about $40,000 in equity in the deal so that check represents 30% ROI and 20% return of capital. Regular cash flow distributions should start next month.
So, that's my first success story: 30% in one year as a passive apartment investor.
Nick