Each deal we do involves untangling, improving, and usually a ton of creative solutions.
We’ve inherited non-paying tenants upon an acquisition, termite infestations, shared utility meters, a property without a sewer tap, foundation issues, sink holes, rodent infestations, and more.
With that said, the value in each project is often uncovered through making the complex situations simple.
Removing problem tenants with a standardized process improves the environment of the apartment complex.
Remedying building issues and renovating units should improve values and subsequently the rents you can get (utilizing zoning to add additional units will do the same).
Leveraging city programs to trim utility installation costs will improve your budget.
If you have an answer or a person for these issues and have encountered them enough- it’s just a game of how long this will take us, what costs we’ll incur during this process, and what price will give us the returns we need for the work.
Complexity often deters interest as some can’t take the risk of executing projects they’ve never done before.
As we refine our process with each deal, we’re better equipped to take them on.