Updated about 5 years ago on . Most recent reply
32 Plex Multi Family
Investment Info:
Large multi-family (5+ units) fix & flip investment in Salt Lake City.
Purchase price: $4,320,000
Cash invested: $300,000
On this property I own 18.75% of the partnership. The plan is the raise the rents from $775 avg a month rent to be $1,100. During the process we are going to update the apartments and make ready to sell in 1 - 2 years.
What made you interested in investing in this type of deal?
The current rents are really below market rents so we can raise the rents easy and make a lot of money once we decided to sell
How did you add value to the deal?
Raising rents and updating the apartments with with new counter tops, ceiling fans, & plumbing fixtures
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Agent, Property Manager
