I am a real estate investor raising funds for the downpayment to acquire apartment buildings in the Broward and Miami area.
My strategy is to buy, renovate within one year, cash out refinance before year 1 to pay back and hold for long time. I have a portfolio of two multiple family properties of 10 units each.
- Oakland property
- Renovation completed in May.
- Purchased on Jan 2020. Purchased price= 1,240k. Estimated ARV = $1,900k
- Rents were increased 50% of the original rents. Current Gross Income $13,600 monthly.
- Miramar property
- Renovation is in progress. To be completed by end of September.
- Purchased on April 2020. Purchased price= 1,025k. Estimated ARV = $2,000k
- Rents will be increased 60%. Target Gross Income $14,900 monthly.
I am currently working on a contract for a 33 units multiple family property in Fort Laudedale. This property has a great potential. With my team of general contractors, property manager and renovation plan (same design and materials used for Oakland and Miramar), the value of the property can be increased with an estimated timeline of 10 months to refinance after renovation is completed. Rents can be increased 50%. If you are interested, I can shared the property, financial and renovation plan to review the details.
My Portal - Following information is included in this site for future reference:
- My Portfolio - Marketing material, Oakland 61 pictures, Miramar 7200 pictures
- My Personal Information - LLC EIN, Resume, Personal Financial Statement, Credit Report
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