Santiago12 Rehab Deal
It is a 12 unit residential income property in Sacramento, CA that is under performing. It is a mix of one and two bedroom units. After acquisition, the plan is to vacate the entire building, renovate as necessary and put new tenants in. Exit will either be to sell it or refinance with conventional loan and return investor funds. Purchase is about $665k and Rehab is about $100k. Duration is 6-9 months.
Rehab Details
| Property City: | Sacramento |
| Property State: | CA |
| Purchase Price: | $665k |
| Rehab + Other: | $100k |
| Money Cost: | |
| Sale Price: | |
| Gross Profit: |
*** Dec 30, 2017 ***
1) Refinancing Completed
2) All investor’s Funds Returned
*** Nov 04, 2017 ***
1) Financing process in Progress
2) All units stabilized
*** Sept 23, 2017 ***
1) All Units Completed and Rented
2) Financing Process Started
*** Aug 12, 2017 ***
1) Last of the 12 units is being updated.
2) Lease is already in place for final unit
3) Search for Cash Out finance has begun
*** July 01, 2017 ***
1) Ten Units Rented
2) Waiting for the Evictions to Complete
3) ETA – August 2017
*** June 03, 2017 ***
1) Total 10 Units Updated.
2) 6 Units Rented and 4 Tenants Ready.
3) 2 Have Served Notice of Eviction.
*** April 22, 2017 ***
1. Acquired a new project which is 12 unit rental complex.
2. Notice to vacate has been served
3. Remodeling in progress
4. One unit leased to new tenant
