Closing on another one today

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Today, we’re closing on a little fourplex deal in a neighborhood we really like.

It’s a roughly $1.1MM all-in project, way too small on its own to be worth our time.

However, it’s near a bunch of other stuff we’re renovating, it’s a simple project (no reconfiguration of the units), and we like the area enough to expect to outperform our pro forma rents.

So, we’re going to tuck it into the portfolio and move on to the next ones… two larger deals we have in escrow now.

For all you brokers reading this: We’re still very, very acquisitive for the right kind of product (beat up, low price per sq ft) in improving neighborhoods. We’re happy to have you rep us on the buy side if you’d like. And we’re dream buyers – cash, as-is, no screwing around.

 

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