All Forum Posts by: Mitchell Coles

Investment Info:

Condo buy & hold investment.

Purchase price: $189,000
Cash invested: $15,000

Welcome to the crown jewel of Center City, Philadelphia—a standout property in my investment portfolio that perfectly combines elegance, location, and profitability. Situated in the heart of the city's vibrant Art District, this 1977-built condo offers an exceptional blend of historical charm and modern living.

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

Investing in this property on Locust Street in Philadelphia, PA, was driven by its prime location in Center City, offering proximity to cultural landmarks, business hubs, and vibrant city life. Its flexibility as a high-yield short-term rental and potential long-term rental ensures strong returns. Purchasing at a value price and adding strategic renovations created significant equity growth. This deal, which combines emotional connection, market opportunity, and long-term financial growth, is a

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

While traveling back and forth to Philadelphia, I stayed in a rental in downtown and met a real estate agent in passing. We started talking about the building, and the agent mentioned a condo whose owner they had spoken to about potentially selling but wasn’t ready to list with an agent yet. This casual conversation turned into a unique opportunity, allowing me to connect directly with the owner and negotiate a fair deal before it officially hit the market.

How did you finance this deal?

I financed this deal using a combination of cash and a private lender. This strategy enabled me to close quickly and secure the property before it went on the open market, while also allowing flexibility for renovations and maximizing overall investment potential.

How did you add value to the deal?

I added value to the deal by strategically investing $15,000 in targeted renovations, including modernizing the decor and enhancing the property’s appeal with stylish finishes and functional updates. These improvements significantly increased the property’s market value and rental potential, attracting premium short-term rental rates and ensuring high occupancy. The addition of a private balcony and standout interior design further elevated its appeal to both short-term and long-term tenants.

What was the outcome?

The outcome was highly successful, with the property's market value increasing from $189,000 to $315,000 after renovations. It consistently achieves 95-100% occupancy as a short-term rental, with nightly rates ranging from $350 to $550, generating substantial cash flow. This property has become a standout in my portfolio, delivering significant equity growth and consistent high returns, while also maintaining flexibility for long-term rental opportunities in the future.

Lessons learned? Challenges?

Lessons learned include the value of building relationships, seizing off-market opportunities, and leveraging cash with private lending for flexibility. Strategic, targeted renovations focusing on market appeal significantly boosted value and rental income. Challenges included navigating owner hesitations, coordinating renovations within budget, and managing high expectations for occupancy and pricing in a competitive rental market. Patience and attention to detail were key to overcoming these h

Investment Info:

Single-family residence buy & hold investment in Bessemer City.

A single-family home in Bessemer City, NC, purchased in 2019 for mid-level renovations. The property was acquired with the long-term vision of capitalizing on the nearby development of a casino, expected to attract workers and residents. While renovations faced delays, and initial rental demand was slower than anticipated due to construction setbacks at the casino, the property is now performing well as a long-term rental. This investment highlights adaptability and long-term growth potential.

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

I was interested in this deal because of its proximity to a planned casino development in Bessemer City, which promised to bring jobs, economic growth, and increased housing demand to the area. I saw an opportunity to position the property as a long-term rental for workers or residents relocating to be near the casino. The property’s potential for strong appreciation and steady rental income made it an attractive addition to my portfolio.

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

I found this deal through "driving for dollars" in a neighborhood near the planned casino development. Knowing the area would see increased demand for housing, I actively scouted for opportunities. When I came across this property, I approached the seller directly and negotiated a fair price based on the property's condition and potential. My strategy focused on leveraging the future growth in the area to secure a long-term investment at an advantageous price.

How did you finance this deal?

I financed this deal using a combination of cash and a private lender. This approach allowed me to close the purchase quickly and provided the flexibility to fund the mid-level renovations needed to bring the property up to rental standards. It was a strategic choice to ensure the property was ready to capitalize on the anticipated growth in the area near the planned casino development.

How did you add value to the deal?

I added value to the deal by completing mid-level renovations that enhanced the property’s functionality and appeal, making it a desirable rental option in the area. These updates positioned the home to attract tenants seeking proximity to the planned casino development. Additionally, holding the property during the ongoing area growth has allowed it to appreciate in value, further increasing its long-term potential as both a rental income source and a valuable asset in my portfolio.

What was the outcome?

The outcome has been positive overall. After completing the renovations, the property became a long-term rental and is now generating steady income. While initial challenges, such as slower-than-expected casino development and tenant delays, impacted early performance, the property has stabilized and is performing well. Its location near the planned casino positions it for continued appreciation and strong demand, making it a solid long-term investment in my portfolio.

Lessons learned? Challenges?

Investing in properties tied to future area developments requires careful evaluation of project timelines and potential delays. Flexibility and patience are essential when external factors, like nearby construction, affect demand. Always have a contingency plan for delays in rental income or project completion. Challenges: Renovations were delayed due to contractors moving slower than anticipated.

Investment Info:

Single-family residence buy & hold investment in Charlotte.

Located in the historic 4th Ward neighborhood of Charlotte, this townhouse at North Poplar Street is part of the desirable Hackberry Court. Purchased with minor updates to modernize the space, it now serves as a high-performing long-term rental property. With a long-term tenant in place for over three years, the property generates maximum rental returns in an area where townhouses are rare and highly sought after. Property values continue to rise, enhancing its investment potential.

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

I was drawn to this deal because of its prime location in Charlotte’s historic Fourth Ward, a neighborhood known for its charm and proximity to Uptown. Townhouses in this area are rare and in high demand, making it a unique opportunity for long-term rental income. The property’s potential for strong appreciation, combined with its appeal to high-quality tenants seeking modern living in a historic setting, made it an excellent addition to my portfolio.

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

I found this deal while working as the escrow officer for a closing where the wholesaler was unable to find an end buyer. When the contract fell through, I recognized the property's potential and stepped in to purchase it directly. By leveraging my knowledge of the transaction and timing, I negotiated favorable terms, securing a rare townhouse investment opportunity in Charlotte’s historic Fourth Ward.

How did you finance this deal?

I financed this deal using a combination of cash and funds from a private investor. This approach allowed me to close quickly and efficiently while maintaining flexibility to make the minor updates needed to modernize the property and position it as a high-performing long-term rental in Uptown Charlotte.

How did you add value to the deal?

I added value to the deal by completing minor modern updates, enhancing the townhouse’s appeal and marketability in the sought-after Fourth Ward neighborhood. These updates allowed me to secure a long-term tenant at maximum rental rates, generating strong cash flow. Additionally, the property’s location and its rarity as a townhouse in Uptown Charlotte further increased its value and demand, solidifying its place as a high-performing asset in my portfolio.

What was the outcome?

The outcome has been highly positive. The townhouse is now a high-performing long-term rental with the same tenant in place for over three years, generating maximum rental income for the Uptown Charlotte market. Its value has continued to appreciate in the rapidly growing Fourth Ward neighborhood, making it a reliable and profitable investment that aligns perfectly with my long-term portfolio strategy.

Lessons learned? Challenges?

Acting quickly on unique opportunities, such as stepping into a deal that falls through, can lead to valuable investments. Minor modern updates can significantly enhance rental appeal and maximize returns. Understanding the market demand for rare property types, like townhouses in Uptown Charlotte, is key to making strategic investments.

Investment Info:

Condo buy & hold investment in Charlotte.

A modernized condo in Uptown Charlotte, purchased in 2020 as a rental property. After minor renovations to enhance its appeal, it has consistently performed well on the short-term rental market, particularly on Airbnb, where it maintains a high 90% occupancy rate. It also succeeded as a mid-term rental with a nine-month lease. Located in a prime area, this property continues to deliver steady income and strong returns.

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

I was interested in this deal because its prime location in Uptown Charlotte made it ideal for a short-term rental. Its proximity to major attractions, businesses, and vibrant city life ensured strong demand from both tourists and professionals. The condo’s potential for consistent income on platforms like Airbnb, coupled with the area's growing popularity, made it a strategic addition to my investment portfolio.

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

I found this deal through a conversation with other condo owners, who mentioned that the seller was motivated to sell. Recognizing the opportunity, I reached out to the seller directly and negotiated a favorable price. Understanding their urgency allowed me to craft an offer that met their needs while aligning with my investment goals, making this an excellent addition to my portfolio.

How did you finance this deal?

I financed this deal initially with a hard money loan, which provided the speed and flexibility needed to close the purchase quickly. After stabilizing the property and confirming its strong rental performance, I refinanced it into a long-term loan. This strategy allowed me to secure more favorable terms while maintaining consistent cash flow from the property.

How did you add value to the deal?

I added value to the deal by making minor modern renovations to enhance its appeal for short-term and mid-term rentals. These updates improved the property’s marketability and allowed me to maintain high occupancy rates on platforms like Airbnb. Additionally, I strategically positioned the condo as a desirable rental option in Uptown Charlotte, capitalizing on its prime location to maximize rental income and overall property value.

What was the outcome?

The outcome has been highly successful. The condo consistently performs well as a short-term rental, maintaining a high 90% occupancy rate on Airbnb. Its prime location and modernized appeal have made it a favorite among travelers and professionals, generating steady and reliable income. The property remains a valuable asset in my portfolio, delivering strong returns while requiring minimal ongoing investment.

Lessons learned? Challenges?

Understanding the target market for short-term rentals is crucial to achieving high occupancy and maximizing returns. Minor renovations can significantly increase appeal without requiring large capital investments. Building relationships with other property owners can uncover opportunities that might not be publicly listed.

Investment Info:

Small multi-family (2-4 units) other investment.

A newly acquired 6K sq. ft. lot in a thriving area of Charlotte near Freedom Drive and Uptown. Originally under contract with a wholesaler, I resolved complex development issues, including acquiring and recombining an adjacent parcel, to meet zoning requirements under the city's new UDO laws. Plans are in place to build a stackable duplex with two 960 sq ft units (2 bedrooms, 1 bath ea). Located in a high-demand area with strong rental and purchase potential, this project is poised for success.

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

I was interested in this deal because it is located in a rapidly transitioning neighborhood in Charlotte, near Freedom Drive and Uptown. The area offers a strong sense of community, increasing demand for housing, and significant growth potential. This investment aligns with my strategy to develop high-quality rental properties in thriving neighborhoods, where both rental income and property values are steadily rising.

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

I found this deal during a foreclosure process while handling the closing as an escrow officer. When the original wholesaler was unable to find an end buyer and the contract was canceled, I seized the opportunity to purchase the property directly. By leveraging my knowledge of the situation and the property's potential, I negotiated favorable terms and secured the deal, ensuring it aligned with my vision for developing a duplex in this thriving Charlotte neighborhood.

How did you finance this deal?

I financed this deal using a combination of cash and a line of credit. This approach allowed me to secure the property quickly and provided the flexibility needed to cover the costs of resolving development issues and initiating plans for the duplex construction. It was an effective strategy to keep the project moving forward while maintaining financial liquidity for other investments.

How did you add value to the deal?

I added value to the deal by resolving complex development issues, including acquiring and recombining an adjacent parcel to meet the 6K sq. ft. zoning requirement for a duplex. Additionally, I collaborated with architects, engineers, and contractors to finalize the design and construction plans for a stackable duplex. This work transformed the property into a prime development-ready lot in a rapidly growing area of Charlotte, significantly increasing its potential for RI and MV.

What was the outcome?

The outcome is still in progress. The property is now fully prepped for development, with the 6,000 sq. ft. lot meeting zoning requirements after resolving parcel recombination issues. All design, architectural, and engineering plans for the duplex are complete, and construction is set to begin soon. Once finished, the stackable duplex will provide two modern rental units in a high-demand Charlotte neighborhood, poised to deliver strong cash flow and long-term appreciation.

Lessons learned? Challenges?

Addressing zoning and land development issues early is crucial to avoid delays. Collaborating with experienced professionals like surveyors, architects, and engineers ensures smoother project execution. Flexibility and persistence are key when navigating unexpected obstacles in real estate development. The biggest challenge was resolving the parcel recombination, which involved acquiring additional land and coordinating with the city for approval. The lengthy process required careful planning.

Investment Info:

Retail commercial investment investment.

A prime commercial property in Downtown Morganton near the courthouse and thriving businesses. The upper level has three long-term tenants (5+ years) with opportunities for upgrades and rent increases. The lower level is being built out to house the third location of Arbol Eatery, a grab-and-go restaurant, along with a wellness center and event space. Positioned in a high-traffic area with a growing population and major corporations nearby, this property is poised for long-term growth and profit

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

I was drawn to this deal because of its prime location in Downtown, near the courthouse and surrounded by thriving businesses. The property’s existing long-term tenants provided immediate cash flow, while the potential to build out the lower level for my restaurant, Arbol Eatery, and additional amenities like a wellness center and event space aligned with my vision for creating value. Morganton’s growing population and its appeal to both residents and visitors made this a strategic investment.

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

I found this deal through my local real estate network, which identified it as a high-potential commercial property in Downtown Morganton. Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller. By presenting my vision for the property and emphasizing my ability to close quickly, I was able to secure favorable terms that aligned with my investment st

How did you finance this deal?

I financed this deal through a private lender, which allowed for a quick acquisition and the flexibility needed to fund the planned build-out for Arbol Eatery, the wellness center, and the event space. This financing strategy also provided the capital to make necessary upgrades to the existing tenant spaces, ensuring the property’s long-term profitability and alignment with my broader investment goals.

How did you add value to the deal?

I added value to the deal by retaining the 3 long-term tenants on the upper level, providing immediate cash flow, while planning upgrades to their units to justify future rent increases. Additionally, I initiated a transformative build-out of the lower level to include the third location of Arbol Eatery, a wellness and fitness center, and an event space. These enhancements significantly increase the property’s functionality, appeal, and income potential, making it a cornerstone of my portfolio.

What was the outcome?

The outcome is still in progress. The property is generating steady income from the three upper-level tenants, while the build-out for the lower level, including Arbol Eatery, a wellness center, and an event space, is underway. Once completed, these additions will significantly enhance the property’s value and income potential. The investment is on track to become a dynamic, mixed-use destination in Downtown Morganton, benefiting both my portfolio and the local community.

Lessons learned? Challenges?

Maintaining clear communication with existing tenants is essential during redevelopment projects. Reassuring long-standing tenants that they are valued and included in the long-term vision helps build trust and ensures stability. Strategic planning and phased upgrades are critical to balancing renovations with ongoing operations.

Investment Info:

Retail commercial investment investment.

A prime commercial property located in the heart of Downtown Morganton, near the courthouse and surrounded by thriving businesses. The building features three long-term tenants on the upper level, each occupying spaces for over five years, with opportunities for upgrades and rent increases. The lower level is undergoing a significant build-out to house the third location of Arbol Eatery, a grab-and-go restaurant renowned for its fresh, flavorful offerings. The build-out also includes plans for a wellness and fitness center and an event space, creating a dynamic, multi-use property in a high-traffic area. With Morganton’s growing population, influx of major corporations like Tyson Foods, and frequent visitors traveling to and from the mountains, this property is perfectly positioned for long-term growth and profitability.

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

I was drawn to this deal because of its prime location in Downtown, near the courthouse and surrounded by thriving businesses. The property’s existing long-term tenants provided immediate cash flow, while the potential to build out the lower level for my restaurant, Arbol Eatery, and additional amenities like a wellness center and event space aligned with my vision for creating value. Morganton’s growing population and its appeal to both residents and visitors made this a strategic investment.

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

I found this deal through my local real estate network, which identified it as a high-potential commercial property in Downtown Morganton. Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller. By presenting my vision for the property and emphasizing my ability to close quickly, I was able to secure favorable terms that aligned with my investment st

How did you finance this deal?

I financed this deal through a private lender, which allowed for a quick acquisition and the flexibility needed to fund the planned build-out for Arbol Eatery, the wellness center, and the event space. This financing strategy also provided the capital to make necessary upgrades to the existing tenant spaces, ensuring the property’s long-term profitability and alignment with my broader investment goals.

How did you add value to the deal?

I added value to the deal by retaining the 3 long-term tenants on the upper level, providing immediate cash flow, while planning upgrades to their units to justify future rent increases. Additionally, I initiated a transformative build-out of the lower level to include the third location of Arbol Eatery, a wellness and fitness center, and an event space. These enhancements significantly increase the property’s functionality, appeal, and income potential, making it a cornerstone of my portfolio.

What was the outcome?

The outcome is still in progress. The property is generating steady income from the three upper-level tenants, while the build-out for the lower level, including Arbol Eatery, a wellness center, and an event space, is underway. Once completed, these additions will significantly enhance the property’s value and income potential. The investment is on track to become a dynamic, mixed-use destination in Downtown Morganton, benefiting both my portfolio and the local community.

Lessons learned? Challenges?

Maintaining clear communication with existing tenants is essential during redevelopment projects. Reassuring long-standing tenants that they are valued and included in the long-term vision helps build trust and ensures stability. Strategic planning and phased upgrades are critical to balancing renovations with ongoing operations.

Investment Info:

Retail commercial investment investment.

A prime commercial property located in the heart of Downtown Morganton, near the courthouse and surrounded by thriving businesses. The building features three long-term tenants on the upper level, each occupying spaces for over five years, with opportunities for upgrades and rent increases. The lower level is undergoing a significant build-out to house the third location of Arbol Eatery, a grab-and-go restaurant renowned for its fresh, flavorful offerings. The build-out also includes plans for a wellness and fitness center and an event space, creating a dynamic, multi-use property in a high-traffic area. With Morganton’s growing population, influx of major corporations like Tyson Foods, and frequent visitors traveling to and from the mountains, this property is perfectly positioned for long-term growth and profitability.

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

I was drawn to this deal because of its prime location in Downtown, near the courthouse and surrounded by thriving businesses. The property’s existing long-term tenants provided immediate cash flow, while the potential to build out the lower level for my restaurant, Arbol Eatery, and additional amenities like a wellness center and event space aligned with my vision for creating value. Morganton’s growing population and its appeal to both residents and visitors made this a strategic investment.

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

I found this deal through my local real estate network, which identified it as a high-potential commercial property in Downtown Morganton. Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller. By presenting my vision for the property and emphasizing my ability to close quickly, I was able to secure favorable terms that aligned with my investment st

How did you finance this deal?

I financed this deal through a private lender, which allowed for a quick acquisition and the flexibility needed to fund the planned build-out for Arbol Eatery, the wellness center, and the event space. This financing strategy also provided the capital to make necessary upgrades to the existing tenant spaces, ensuring the property’s long-term profitability and alignment with my broader investment goals.

How did you add value to the deal?

I added value to the deal by retaining the 3 long-term tenants on the upper level, providing immediate cash flow, while planning upgrades to their units to justify future rent increases. Additionally, I initiated a transformative build-out of the lower level to include the third location of Arbol Eatery, a wellness and fitness center, and an event space. These enhancements significantly increase the property’s functionality, appeal, and income potential, making it a cornerstone of my portfolio.

What was the outcome?

The outcome is still in progress. The property is generating steady income from the three upper-level tenants, while the build-out for the lower level, including Arbol Eatery, a wellness center, and an event space, is underway. Once completed, these additions will significantly enhance the property’s value and income potential. The investment is on track to become a dynamic, mixed-use destination in Downtown Morganton, benefiting both my portfolio and the local community.

Lessons learned? Challenges?

Maintaining clear communication with existing tenants is essential during redevelopment projects. Reassuring long-standing tenants that they are valued and included in the long-term vision helps build trust and ensures stability. Strategic planning and phased upgrades are critical to balancing renovations with ongoing operations.

Investment Info:

Retail commercial investment investment.

A prime commercial property located in the heart of Downtown Morganton, near the courthouse and surrounded by thriving businesses. The building features three long-term tenants on the upper level, each occupying spaces for over five years, with opportunities for upgrades and rent increases. The lower level is undergoing a significant build-out to house the third location of Arbol Eatery, a grab-and-go restaurant renowned for its fresh, flavorful offerings. The build-out also includes plans for a wellness and fitness center and an event space, creating a dynamic, multi-use property in a high-traffic area. With Morganton’s growing population, influx of major corporations like Tyson Foods, and frequent visitors traveling to and from the mountains, this property is perfectly positioned for long-term growth and profitability.

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

I was drawn to this deal because of its prime location in Downtown, near the courthouse and surrounded by thriving businesses. The property’s existing long-term tenants provided immediate cash flow, while the potential to build out the lower level for my restaurant, Arbol Eatery, and additional amenities like a wellness center and event space aligned with my vision for creating value. Morganton’s growing population and its appeal to both residents and visitors made this a strategic investment.

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

I found this deal through my local real estate network, which identified it as a high-potential commercial property in Downtown Morganton. Recognizing the opportunity to combine steady income from existing tenants with the ability to develop the lower level for Arbol Eatery and other amenities, I pursued direct negotiations with the seller. By presenting my vision for the property and emphasizing my ability to close quickly, I was able to secure favorable terms that aligned with my investment st

How did you finance this deal?

I financed this deal through a private lender, which allowed for a quick acquisition and the flexibility needed to fund the planned build-out for Arbol Eatery, the wellness center, and the event space. This financing strategy also provided the capital to make necessary upgrades to the existing tenant spaces, ensuring the property’s long-term profitability and alignment with my broader investment goals.

How did you add value to the deal?

I added value to the deal by retaining the 3 long-term tenants on the upper level, providing immediate cash flow, while planning upgrades to their units to justify future rent increases. Additionally, I initiated a transformative build-out of the lower level to include the third location of Arbol Eatery, a wellness and fitness center, and an event space. These enhancements significantly increase the property’s functionality, appeal, and income potential, making it a cornerstone of my portfolio.

What was the outcome?

The outcome is still in progress. The property is generating steady income from the three upper-level tenants, while the build-out for the lower level, including Arbol Eatery, a wellness center, and an event space, is underway. Once completed, these additions will significantly enhance the property’s value and income potential. The investment is on track to become a dynamic, mixed-use destination in Downtown Morganton, benefiting both my portfolio and the local community.

Lessons learned? Challenges?

Maintaining clear communication with existing tenants is essential during redevelopment projects. Reassuring long-standing tenants that they are valued and included in the long-term vision helps build trust and ensures stability. Strategic planning and phased upgrades are critical to balancing renovations with ongoing operations.

Investment Info:

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

A two-story, eight-unit apartment building with four units on each floor, each offering two bedrooms and one bath. While the property requires renovations, inspections and estimates have been completed, and construction is now underway. Once updated, the building will provide modernized living spaces and support a significant rent increase, enhancing cash flow and property value. This investment aligns with a broader strategy to maximize returns in the growing Drexel market.

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

I was drawn to this deal because of its potential as a value-add multi-family property in a growing market. The eight-unit building, with each unit offering two bedrooms and one bath, presents a prime opportunity to increase rental income through renovations. Its size and layout make it ideal for long-term cash flow, and the demand for updated housing in Drexel ensures strong tenant interest once improvements are completed.

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

I found this deal through my real estate network, which highlighted it as a strong value-add opportunity in Drexel. Recognizing the potential for increased cash flow after renovations, I conducted thorough due diligence and negotiated directly with the seller. By demonstrating my commitment to revitalizing the property and emphasizing my ability to close quickly, I secured favorable terms that aligned with my investment goals.

How did you finance this deal?

I financed this deal through a private lender, allowing for a swift acquisition and the flexibility to allocate funds toward renovations. This financing approach ensured I could move forward with construction plans immediately after inspections and estimates were completed, aligning with my strategy to maximize the property’s rental income and value.

How did you add value to the deal?

I added value to the deal by initiating cosmetic repairs to make the units rent-ready while preparing for more extensive renovations. These updates include modernizing the interiors and improving the overall appeal of the building to attract tenants. The planned renovations aim to enhance the property’s condition, allowing for significant rent increases and maximizing the long-term income potential of this eight-unit apartment building.

What was the outcome?

The outcome has been successful so far. Cosmetic repairs have been completed, and the building is now fully rented, generating steady cash flow. Plans for more extensive renovations are still underway to further modernize the units and increase rental income. This property is already contributing to my portfolio’s performance and has strong potential for even greater returns after the planned upgrades are completed.

Lessons learned? Challenges?

Investing in multi-family properties requires balancing immediate repairs for cash flow with long-term renovation plans to maximize value. Thorough inspections and budgeting upfront are critical to avoiding surprises during renovations. Keeping tenants informed and satisfied during the process ensures smooth occupancy transitions. Additionally, ensuring the renovations met both current rental standards and future plans required careful planning and oversight.