Bought Apartment 2020. Sold Apartment 2022. Profit $4M. Luck?
Hi Redditors!
My co-founder and I sold our startup a few years ago and bought an apartment complex. We did a full renovation by gutting the entire place, incl plumbing & electrical, etc.
Added value, leased the renovated apartment, and made $4M after a couple years. We 1031'd it and are working on another project. So why am I here?
- We love tech. We love startups. Is there any software you wish you had that could help you operate better? There's a ton of stuff out there but if the community wants something specific to help with sourcing deals, budgeting renovations, or a marketplace for real estate professionals, etc. we're here to help
- Do you want more specifics on the apartment and how we found the deal, how much we spent to fix it, how we leased it, etc.?
New to this community. Little bit of experience in real estate. Lot of experience with software & tech.
Looking forward to your feedback!