Updates on 16 Unit Income Property apartment building
Update: for more details on this project, check our first post on this here.
Goal: Provide 16 safe clean housing units in a high-demand rental market in West Texas. After stabilization, property will gross $14,000-16,000 per month with an average rent of $1000-1400.
Updates on our private income stream acquisition:
- My awesome assistant, Vency, found 5 general contractors. We are checking with their timelines to see if it matches with our "4-month fully occupied" timeline.
- We have locked down 3 cash-private investors for the project for rehab and acquisition costs.
- Entity structure: I have an attorney setting up the entities. We typically purchase with LLC's and land trusts.
More updates and pictures coming soon right here on the blog. For more details see the first post of this series.