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Updated about 6 years ago on . Most recent reply

User Stats

316
Posts
130
Votes
Calvin Lipscomb
  • Brooklyn, NY
130
Votes |
316
Posts

Close final deal in 2018

Calvin Lipscomb
  • Brooklyn, NY
Posted

Closed on this value add 6 family in Chicago.  Final deal for the year.  The property is a mess.  Will have to update apartments and common areas to obtain higher rents while adding units on the garden floor.  Then we will have to obtain quality tenants who can afford the new rents.   We are projecting a complete turn around and stabilization to take 6 months.   This makes our 3rd 6 family acquisition for 2018.   I want to thank the forum for their support and assistance in getting things started.  Being new to the actual process having the support of the group was very valuable to meeting my objectives.  Looking forward to bigger things in 2019.

Most Popular Reply

User Stats

17
Posts
3
Votes
Randy Gillon
  • Auburn, AL
3
Votes |
17
Posts
Randy Gillon
  • Auburn, AL
Replied

Nicely done! Do you mind me asking what part of Chicago this property is in? (i.e., North side, south side, etc)

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