We do exactly this. Usually 2bd -> 3bd. Just framed one this morning. Its really that easy
One of our rinse/repeat plays has been converting prewar 1 bedroom with dining room apartments into two bedroom apartments. Costs about $1500/unit. Adds $200/unit in monthly rent or about $40k in value at a 5.5% cap rate.
This is wild. Trents a great follow, hes easily top-3 on RE twitter
Drycleaners, their devastating impact on our communities that nobody talks about, and a solution - a thread 🧵👇
As a strip mall owner, I've dealt with this issue for 15 years, and I'd like to address it here.
Hope this gets Retweeted so we save lives!
Since the 1930s, the
Sad but true in Chicago. Higher insurances. More hurdles in permitting. All dinging the assets value. Newer Live-Work use introduced a a couple years ago starting to help.
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A decade ago I bought in Toledo, OH. 15-30k per house and rent $500-700/mo. Impossible to mess things up. Could have grinded out crazy cash flow in a year but fuck living in Toledo when youre 21
If you’re just starting out, finding the RE market with the least competition will likely be the single biggest component of success
Putting in max effort in NYC gets you almost nowhere. Putting in max effort in bumblefuck makes you one of hardest working investors in that city
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This is basically our thesis. Working class can easily afford $100+/mo bumps per unit, adding ~15k per door in value
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Even Moses's evicted tenants are great. Drinking 1942 and not breaking anything
File under: "So you wanna be a landlord"
We evict incredibly rarely (like, I've done it ~5 times in ~13 yrs).
In this case, our tenants illegally sublet their unit to people we didn't approve, then stopped paying rent. So we had no choice.
Here's how they left the place.
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