Park Place was generating $53,000 per month at date of acquisition, with a 78% occupancy rate. High vacancy, high expenses, and poor management all attributed to the poor performance of the asset. Within twelve months, the income exploded to over $85,000 per month.

We have refinanced over $3,800,000 from Park Place, and the property continues to generate substantial cash flow monthly.

At the time of takeover, the Hammond was generating $1,200,000 in yearly revenue. The Hammond was in an excellent location, but needed to be updated and lacked the amenities to compete with nearby assets.After takeover, we built a dog park, rehabbed the clubhouse, fitness center, and pool. Exterior improvements included landscaping, parking lots, and common areas.

Revenue increased from $100,000 per month to $125,000 within two years. We were able to refinance over $600,000, and continue to hold the asset and enjoy a strong monthly cash flow.

Wyatt was purchased with a significant value-add component that included implementing professional management, raising rents, and implementing a Ratio Utility Billing System. It was 88% occupied at the time of purchase and revenue was $60,000 per month.

Once our systems were implemented, we were able to increase occupancy to 97% and increase revenue to over $90,000 per month. We have refinanced over $1,900,000 in proceeds from this deal, and we still enjoy terrific cash flow every month.

Lakeland Hills was purchased with a significant value-add component of increasing rents and decreasing expenses. We deemed it a huge “management” play. Revenue was $90,000 per month at takeover, and increased to over $120,000 per month in three years.

We have been able to refinance over $1,500,000, and continue to hold the asset.

This property was purchased from a company that built the community back in 2008, and decided to self-manage the asset. We viewed the opportunity as a management play and to take over operations, and we purchased the asset at a significant discount to replacement.

Income has increased over 30% in just under eighteen months, and with continued rent growth, the asset will continue to generate healthy cash flow.

The property was refinanced from community bank to agency financing, and we were able to refinance $500,000.

Breckenridge was purchased from a mom & pop seller who built the property and managed it. The units were under market rent due to several factors: large units, many had garages, and a beautiful setting and community atmosphere. The strategy with Breckenridge is to continue to upgrade units, increase rents and focus on customer service. The property was purchased with agency financing, and we will continue to hold for the long term and collect monthly cash flow.