What’s the big deal with apartments? If you’re not convinced apartments are a smart move for a real estate investor, this example might just change your mind.
A buddy of mine recently did a massive apartment deal. He repositioned the apartments to improve the tenant base and drive up rent. Most of the repositioning was work like redoing some of the finishes on the property—granite countertops, that kind of thing.
He also brought in a management company, which cut the expenses by $500,000 right off the bat. Instead of paying for every service separately, he bundled services. He used his personal assets to find discount options that cut the cost of different services like trash collection and maintenance.
Be Daring,
Josh
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