16 Unit Value Add Multifamily Update - Metro Detroit Market

[Tony Stephan]

My wife Andrea own over 100 rental properties in Metro-Detroit...We chased this 16 unit down for TWO YEARS before finally getting the owner to sell it to us back in 2022.

It had A LOT of work that needed to be done:
- Tenants weren't paying rent on time or at all.
- Units were completely outdated and had deferred maintenace.
- It needed a community face lift and re-brand (was called windmill apartments....yuck.)

We came in and strategically worked our business plan:
- We upgraded the exterior including fresh paint, signage, and landscaping.
- We removed delinquent tenants and changed the community standards around to provide a safe and clean place of living.
- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.

When we took over the property the 16 units were producing around $9000/month in gross rent.

I just checked our rent roll today, and we just crossed $17,000 in gross income monthly! This property alone throws off a few thousand dollars in cash flow each month.

Listen, there's nothing more powerful for you and your family than investing in real estate.

You can't add value to your crypto.

You probably don't even know what your 401k is invested into (or, if you even SUPPORT the companies you're investing in.)

You can't add value to your Apple stock or Meta stock.

But you CAN buy a great property, fix it up, solve the problems, and INCREASE the value (and cash flow.) Have any questions about the deal? Post them below or DM me. We own a real estate brokerage in Birmingham MI and help investors get into cash flow rental properties like we do. If you ever need anything at all don't hesitate to reach out to us!