All Forum Posts by: Daniel Rovegno

Hello everyone, 

I’ve found a potential deal but the current owner of the multi-family is significantly under priced on rent. Is there a limit to how much rent can be increased in NC? The Current rent is $675 for a nice 2/2 and similar units are $1000/unit nearby… thoughts/advice !? 

Investment Info:

Other buy & hold investment.

Grass Airstrip 3200’ x 150’
42 tenants
3000gal of 100LL Fuel
Fully Automated

What made you interested in investing in this type of deal?

Passion for aviation & business

How did you find this deal and how did you negotiate it?

Word of mouth

How did you finance this deal?

100% Privately

How did you add value to the deal?

Brought up to current SOP’s. Currently Full automation

What was the outcome?

Cash flow & low touch time ( other than mowing 40 acres of grass)

Lessons learned? Challenges?

To many to list, Top 3
1.) Finding the deal was harder then finding the money
2.) Purchased at a monthly loss, which required fast improvements & increases
3.) grass grows fast in the summer

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No, just attorney