Another BRRRR Strategy Success
A Great Win in the Summer Heat
By: Ben Riehle, CEO/Co-Founder Apex Real Estate Network
Whats up, everyone? Its been a while since I have talked about one specific deal, but this was a huge win for an Apex Real Estate Network investor who is a longtime client and friend. At the Apex Real Estate Network, we take great pride in taking problematic properties and turning them into cash flowing assets. Although the Tucson market was once quiet, there has been a huge amount of growth in recent years. [See Growth Article.]
This is another successful BRRRR strategy investment. Don’t know what the BRRRR strategy is? Do yourself a favor and take a minute to learn about this incredible investment tool [See Article]. As the market becomes more competitive, the ability to be creative is an essential tool to have. On occasion, the current use of the property isn’t the most worthwhile or being used to its full potential.
Take this project for example, originally a mismanaged duplex; we decided the best plan of action would be to turn it into a five-bedroom three bath SFH to allow for maximum rental income. We have noticed that students at the University would rather live in a large SFH than two separate apartments. This allows them to pay lower utility bills and have more living space. This property is two blocks north of the University of Arizona and will be a great rental for years to come.
Although the Tucson market is currently very competitive, being able to identify the best use for a property has allowed us to create a massive win for the investor and for our team. As we continue to pursue investment opportunities, it is important to reflect and celebrate significant victories like this.
Our investment team was able to identify this project and the potential it had as an investment, the construction team completed this project efficiently and beautifully. Our management team had the property leased before the construction was complete, which is a massive feat by itself. Overall, we took a property that wasn’t being used to its full potential and remodeled it into a beautiful cash-flowing asset that should rent for many years.
If you have any questions about this project, I would love to go into more details.
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