FINALLY Closed on My First Multi-Family Apartment Complex

[Tony Castronovo]

We finally closed today on our first multi-family apartment complex! Seems like such a long road after making the decision to transition out of SFH last Fall and selling off our portfolio in the Spring. I ramped up my education quickly as I knew nothing about cap rates, NOI, due diligence, etc. The pressure was really on when we elected to do a 1031 exchange. We were under contract on a property pretty quickly but after numerous extensions the deal fell apart. Thankfully, we had a good backup plan and used what we learned in the first deal to nail it on the second. Much hard work in front of us but we will celebrate tonight!

[Tony Castronovo]

@Paul Choi Thank you! 20 units and not my town.  It's a sub-market of Houston.  Bryan - College Station, Texas.  It's about and hour and 15 min away.