Case Study
Trenton 12 Townhomes
Renovation, operational turnaround, and rent growth.
Purchase Price
Renovation Budget
After Repair Value (ARV)
Equity Created
Debt Partner Profit ($238k loan)
- Off market 12 unit townhome property that we found through a wholesaler relationship, purchased for $810k in March of 2023. Retiring owner, most tenants have been in the property 10+ years, paying well below market rents. 1990’s vintage, but in need of cosmetic updates. Desirable 2 bed/2 bath units.
- Invested $160k into strategic renovations (interior and exterior), allowing us to take rents from an average of $650 to $1200 a month.
- $238k from a debt partner, covered part of our initial downpayment, and all the renovation. The investor made over 15% return on his money within 15 months!
- Cash-Out refinanced almost $300k, $170k over what we still had invested into the deal (in essence, the property paid us $170k for owning it)!
- Still over $500k of equity left in this property, adding to our net worth.
- BONUS: Our next acquisition was purchased with the refinance proceeds.
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