We initially assisted our client in purchasing this property in 2012. At the time of purchasing, the new owner obtained new management for the property and completed several property improvements, including the installation of PTAC units in all 16 apartments. As our client diversified into more sophisticated deals, effective management at this property became a concern.
In 2017, Linville Team Partners connected our client with a replacement management company to get the property and tenant-base back to the same caliber as during the initial 2012 purchase. The goal of this switch was to stabilize the investment and get the property market-ready so that they could sell and 1031 into another less management-intensive property.
Ultimately, Linville Team Partners was able to add significant value to the sale by:
Making suggestions to stabilize the investment through better management and recommendations to restore the property’s condition
Securing a purchaser once the new management and financials had sufficiently seasoned
Capturing a sales price that equated to a 24% appreciation over the course of the ownership period (during this period the property cashflowed)
LTP has helped me with almost all of my investment properties. They provide detailed investment analysis as well as access to off market opportunities that I might not otherwise see. There have been multiple transactions where they have helped me buy & sell the same asset for a profit! Their collaborative attitude truly makes them stand out!”
Grimshaw Properties, LLC