Buying and Selling a 32 Unit Apartment Building For 3X Returns and Lessons Learned
Manage episode 351408612 series 3425853
By Rich Somers. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
In this episode, Rich talks about his experience buying a 32 unit apartment building in Indiana, his value-add strategy, repositioning the property, and the business plan. He describes forcing the equity & appreciation, then exiting and selling the property 2 years later for three times what it was purchased for. Rich shares a lot of useful information in this episode, including his experience 1031 exchanging out of that deal into more real estate.
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Connect with Rich on Instagram: @rich_somers
Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.
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