All Forum Posts by: Lindsey Jellig

Lol. It was a by chance lucky situation that I am using my learnings and AI to make a model to recreate to share with others who also want to catch lightning in a bottle. At least as a base for experts to do the rest of the work from their hard earned experience!

Hi Jaycee,

Thanks for clarifying - as far as operating the building and the rent rates we were taking in it was practically break even around 2009 since they haven't been raised in almost 12 years but grew to >50% profits from <20% over 9 years. The ROI actualized was not through operation but mainly through holding and selling via neighborhood appreciation. The massive appreciation was partly due to rezoning incentives along the water for developers as well as popular TV shows taking place there right before the rezone.

Does that help answer your question?

 Hi Jaycee,

The NOI was nominal because the building was paid off from the previous generation family member owners. There were small bits of upkeep like getting a new boiler, resurfacing the fire escapes since rust is a liability there, and light renovations floor by floor as previous tenants moved out or passed away. Also slowly updated lead pipes, removed asbestus, and updated the stoop. Increased rent helped afford this in an area rapidly appreciating. Since we were under 6 units there was no rental increase cap.

Hi Bigger Pockets members, a fellow real estate investor, I can help you identify properties that can offer 3x in profit through holding (I did this recently getting landlord partners an extra $1M extra each than what they originally expected) through advising to hold a property in a market rapidly growing - fresh with new zoning rules. I shared with them the state of the market since they were unaware while living in Florida. After holding the property an extra 9 years, the total price went up 3x from when they originally wanted to sell in 2009. Even if they held 4.5 yrs they would have gotten $500k each.

I am here to help you or referrals identify other similar early trends. In addition, use me to help you save time with tech platforms. After serving as a design director for a platform serving 45M users in the tech industry I have increased user acquisition, satisfaction scores, and referral rates by 40% over 5 years. I'd love to partner with you to help you achieve similar results for your business goals. Feel free to email me at [email protected]

Let's make your dollar work harder for you together,

Lindsey

Have you issued an eviction notice?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $1,100,000
Sale price: $3,200,000

As a former co-landlord for a multifamily in Greenpoint, I persuaded my partner to not sell in 2010, and when they did sell in 2019, the building was worth triple its value. I went on to obtain her sales license, and to join Corcoran’s Park Slope office so that I can help others identify similar market opportunities, find great homes, and optimize their return on investment.