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.
Members Profile
Dale and Anil, who both live out of state (Kansas and Chicago, IL), found this deal in Cincinnati, OH. The deal was a short sale purchased for $480,000. They didn't have enough time to wholesale it but after re-positioning it, they plan to go back to their buyers list and sell for for $690,000.
Dale and Anil, who both live out of state (Kansas and Chicago, IL), found this deal in Cincinnati, OH. The deal was a short sale purchased for $480,000. They didn't have enough time to wholesale it but after re-positioning it, they plan to go back to their buyers list and sell for for $690,000.