330: 54 Niles Update: Sold for $1.1M in Profit!!
If you’ve been following the podcast over the past year or so, you might remember when we bought the property called 54 Niles. This is a 54-unit building that used to be part of an assisted living facility. I’m very excited to say that we recently sold the property for a profit of over $1.1 million!
So today, I’m going to break down how we did it. You’ll learn how we acquired the property off-market, the critical improvements that we made, how we got it to 100% occupancy, and walked away with over a million in profit.
If you’re a new real estate investor or looking to add commercial multifamily to your portfolio, this is a perfect case study on the right way to get your feet wet and turn a profit along the way.
Key Takeaways with Josh Cantwell
- How we acquired 54 Niles off-market, spent about $120,000 on improvements, and achieved 100% occupancy.
- What we did to get a great offer on the property despite rising interest rates.
- The eight different profit centers in multifamily properties–and the specific ways we profited from 54 Niles.
- Why multifamily properties stay cash flow positive even as you rehab and improve them.
- Why cash flowing and flipping multifamily properties is such a great way to enter this space–especially if you have prior experience with single family.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/330
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