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Current Projects

River Ridge Apartments

River Ridge Apartments
(146 units)

-Asking price: (off market)
-Purchase: $9,100,000
-Capital raised: $3,000,000
-Renovation budget: $2,700,000
-Investors preferred return: 7%  -Projected average annual return: 18.05%                        -7 year hold

Work to be done

-Turnover units to increase rents. Upgrade exterior, build pool, amenities, etc.

-Refinance at year 3, renovate units as turnover occurs, and increase rents a second time.

-Sell, or refinance, at year 7. Investors projected total return: 126.35% 

Work in progress

-Bringing in new property management.

-Stabilizing, and exterior renovations.

The Majestic

Mixed-Use Commercial / Residential

-Asking price: $3,000,000
-Purchase: $2,795,000
-Down payment: $150k (w/partner)
-Seller finance: $1,645,000 (at 4% interest)
-Rehab estimate: $minimal/ongoing
-Current appraisal: $3,300,000
-avg cash-flow: $6k (estimate) ~$15k room to grow

Work to be done

-New roof and gutters (paid by seller)
-Complete four Air BnB units (paid by seller)
-Expand Escape Room tenant (paid by seller)
-Update kitchen for the new tenant: $10-15k
-Purchase additional coin laundry units: $2-6k

Work in progress

-Air BnB construction
-Updated Evac system (completed)
-Improve efficiency of building

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