Glendora Ca apartments investment working well.

[Andy Lanyi]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Glendora.

Purchase price: $3,000,000
Cash invested: $3,000,000

2020 pulled out 1,500,000 to reinvest in additional apartments

What made you interested in investing in this type of deal?

1031 exchange into area where I moved to

How did you find this deal and how did you negotiate it?

MLS through a Realestate agent

How did you finance this deal?

1031 exchange

How did you add value to the deal?

New roof, new plumbing, Update all apartments

What was the outcome?

The value has increased about 1,000,000 in the 6 years that I purchased the apartments.

Lessons learned? Challenges?

Make sure you are always trying to do improvements to the property, it really makes a difference to the residents. Quickly make sure you repair any needs of the residents. Always get tenants with fairly good credit rating.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not at this time