This property was acquired via the Multiple Listing Service (MLS). There were multiple parties bidding on the property, and the owner was interested in a quick closing. Using our access to private capital, we were able to offer the owner a 7-day escrow period, at a price which was attractive to both us and the owner.

The property had serious physical and management issues, including a damaged roof, cracked driveway, and tenants who paid rent inconsistently. Working with our property management team we were able to resolve these issues, while our construction team worked to deliver the sort of property our tenant’s deserved. All of this increased the property’s value considerably.

We refinanced the property after just two years, paying off our existing mortgage, and withdrawing $180,000 in cash. The property continues to cash flow well and has benefitted from job growth in the area.