Asset Type – Multi-Family (Triplex), Spanish Colonial Architecture, in an urban midtown neighborhood
How Acquired – From a Real Estate “Wholesaler”
How Funded – Private Investor Loan and a “Self-Directed” IRA
Objective – “Buy-Fix & Hold” (for monthly rental cash flow)
Scope of Work – Complete Gut, Reframing and Foundation project, All rooms renovated including kitchens and bathroom. There will be significant landscaping.
Exit Strategy (Outcome) – Attract high-end millennials willing to pay maximum rents to be located within 4 miles from downtown San Antonio downtown with a historical neighborhood feel.