May 18, 2019
Dan Handford with PassiveInvesting.com discusses the 128-unit Riatta Ranch apartment investment that acquired by Chihiro Kurokawa with Blackriver Equity Partners. This asset was acquired with in-place occupancy of 94%. The market cap rate was 6.4% and this was low due to the high expense % of 76% upon acquisition. The adjust going-in cap rate assuming a 52% expense ratio was 9.8%. The projected returns for passive investors on the 5 year hold was great. This apartment community has a mix of 1,2,3 beds and the rents were below market and lots of deferred maintenance.
Register for the next Multifamily Investor Nation Summit by visiting http://www.MFINSummit.com - Get your tickets now!
Interested in passive investing in large 100+ unit
Join the #MFIN - Multifamily Investor Nation by visiting:
Join the #MFIN Closed Facebook Group:
Subscribe to the #MFIN YouTube Channel:
Join a local #MFIN Meetup:
Follow Multifamily Investor Nation On Facebook: