I’m beginning to think that my experience differs from yours and others who have the same experience with sub to as you because almost all of my deals in the last 20 years have been COMMERCIAL properties; hence a significantly different species. 

I'm not sure why you are so bothered by someone sharing their experience online. 

how much experience do you have?

I have a considerable amount of cash tied up for possibly more than 2 months.  

I was wondering if anyone has any experience developing or owning something like this.

Would love to hear from the community on their thoughts or experiences.  

Inspect appliances for age and condition,and look over the flooring for any damage.For tenant considerations, evaluate the unit layout for functionality and storage, and check for safety features like smoke detectors and secure locks.

That is taking into consideration employees and 65 rentals, so I am sure you will be a lot cheaper.

Ask me privately.Financial Highlights- Gross Potential Rent: $98,061 per month ($1,176,732 annually)- Total Income (5/1/2023-4/30/2024): $1,357,459.80- Net Operating Income: $896,896.09- Existing assumable loan: $6.7M at 5.38% fixed rate until 2029Value-Add Opportunity- Partially renovated property with potential for further upgrades- Current loss-to-lease suggests room for rent growth- Opportunity to implement operational efficienciesMarket Dynamics- Huntsville's population grew 9.4% between 2020 and 2023- Strong job growth, particularly in aerospace and defense sectors- Significant multifamily supply growth (15.9% inventory expansion in past year)Investment Strategy- Assume existing favorable financing- Implement value-add renovations to drive rent growth- Capitalize on Huntsville's robust economic expansion- Target hold period: 3-5 years to align with loan maturityRisks and Considerations- High market-wide vacancy rate (17%) due to recent supply growth- Potential for market softening due to rapid inventory expansion- Property age may require significant capital expendituresThis opportunity offers a blend of stable cash flow from the existing operations and upside potential through strategic improvements, all underpinned by Huntsville’s strong economic fundamentals.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

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