I Need To Increase My Rate of Return
We assisted a seller in selling a two bedroom, one bath fourplex located in a predominately working-class neighborhood. The property was not producing the rate of return that the owner had originally hoped to receive when he bought the property five years earlier.
The owner struggled to keep good long term tenants in the property and had a hard time increasing rents on an annual basis without his tenants giving notice and moving. The property needed some interior updating and remodeling if the owner was going to pull a stronger quality of tenant and increase his rents.
We advised the owner that he should save his cash and put it into a future property that he would buy to replace this stream of income.
We sold the property in its as-is condition to a savvy investor who self manages property and was looking for a property that had upside potential for him to do his own updating and build sweat equity into the property.