New Project Alert 5 Unit Value Add!!

[Garreton Smith]

Hi BP Family,

Excited to share with you guys. I picked up my first commercial building. 5 units in Albany, NY. Value add deal we’re gutting each unit. The plan is to modernize the apartments, raise rents and keep for cash flow. Follow me on the journey!! Some pictures for context, phase 1 demolition.

[Garreton Smith]

@Jeff Wydra I'll have a post coming out with all of the numbers and process. But short numbers are 

PP 275K 

Reno 180K 

ARV 600-650K

I would recommend getting an idea from the planning or zoning board first. It might be simple to add that 6th unit they'll have their requirements so consult with an inspector before construction as well. Let's keep in touch we're doing pretty much the same thing.