Slowly raising rent to market value.

Slowly raising rent to market value.

Many top agents actually prefer operating during recessions because of this phenomenon of less competition and able to raise prices.

We've all had to flex those creative muscles to navigate these days. 

Best bet is to raise the capital and bring in a financial qualifier aka KP 

I cleaned it up mainly on the outside and raised rents to market rate.

I've gotten my best deals during the holiday seasons on properties that sat on the market for 6 months and I've lost the most money trying to raise properties from the grave.

I found the dealI tied up the contractI performed some pre-closing due diligence (about $15,000)I will project manage, bid out the deal, work with architects, GC’s, engineers, etc.Numerous meetings with contractors and architects to dateInvestor will put up ALL equity required to buy the landWe will raise additional equity for renovation 50-50. 

Great school system/community- 2 buildings- 6 units in each building- 2 Bed 1 Bath units-1000 sq ft per unit, appliances included, washer/dryer hookups in each unit- built in 1998 so fairly knew-Rent Roll is low and will need to be raised- Currently at 590$ per unit - Very low vacancy rate in the 15 years the owner has had them- New roofs, Air conditioners-Building structure seems very good.- Another plus is that I own 16 units just down the street so the location for me is helpful.His initial asking price was 650k and now he is thinking he needs to be at 700k.

Matt Faircloth's book on Raising Private Capital from BP is very good on this topic.