Hello, everyone, this is Juan Carlos Gastelum. I am a real estate investor in Texas. On January 27th 2022, we went back to Edwards Abstract & Title to get our check from the settlement on a recent purchase of a multifamily property. We were not expecting much. But anything coming in as income is good news. So we got $768 dollars back. Not bad. This money went to the remodeling of one of the units to be able to increase the monthly rents up to $825 from $700. This should give us an additional yearly NOI (Net Operating Income) of approximately $38,000. We’ll let you know the numbers once we finish the rehab. As the new owners of the property, we are excited that rents are being raised immediately after closing.
We originally thought we were going to stabilize at $750 and now three weeks into the deal, it looks like we’re raising the threshold to $825. So if you’ve got questions on how we did this deal and how are we going to benefit from a cost segregation study, send me an email or contact me at jcgastelum@onewaytexas.com . That’s it for now. Take care. Best wishes on your real estate journey and God bless!
