Been visiting families in China for 1.5months, traveled 7 beautiful cities in mainland, HK and Japan...Just closed on a deal on last Friday, it was put under contract a month prior to the trip. This is a private sale, dealing with an extremely difficulty and crazy seller remotely.
19apartment units (15 2bed and 4 3bed), 4 commercial garages with an office room and a bathroom in each. two vacant apartment units. all below market rent ($200-$300 upside). purchase price $1.9M is at around 8% in-place cap. $150k renovation budget for exterior and in-units. 12-24month turn-around period, looking to achieve $1M increase in value.
Been visiting families in China for 1.5months, traveled 7 beautiful cities in mainland, HK and Japan...Just closed on a deal on last Friday, it was put under contract a month prior to the trip. This is a private sale, dealing with an extremely difficulty and crazy seller remotely.
19apartment units (15 2bed and 4 3bed), 4 commercial garages with an office room and a bathroom in each. two vacant apartment units. all below market rent ($200-$300 upside). purchase price $1.9M is at around 8% in-place cap. $150k renovation budget for exterior and in-units. 12-24month turn-around period, looking to achieve $1M increase in value.
Time to roll up the sleeves and get dirty!
It just takes some work and patience.