Profit Strategy: Originally, they were going to rehab and flip the property but due to unforeseen obstacles, they modified their strategy and sold it to a developer, did a wrap-around mortgage and made $50,000.
Number of Units:42
Amount Earned: $50,000
Personal Money Invested: $10,000
Prior Experience: Had been actively involved in real estate for 10 years, using the buy and hold strategy in Pittsburgh, PA until he had to readjust his strategy around 2008.
Profit Strategy: They intended to wholesale but because it was a short sale, they didn’t have enough time to find buyers. Now, they are re-positioning it to increase value and plan to go back to that buyers list.
Number of Units: 44
Amount Earned: Expect about $180K net profit when sold about 9 months later.
Prior Experience: Neither had apartment experience; Dale had some single family rental house experience
Personal Money Invested: None. They found a private investor to put 30% down payment.