In today’s episode, Gary and Kyle talk about the 42-unit midtown asset they recently sold in Tuscon. We hear about how they took the property from barely surviving to thriving, and the upgrades they chose to make. Gary and Kyle do not only look for rehab opportunities; they also look for chances to upgrade operations. We find out what surprised them when they tweaked the building and the rationale behind them pivoting and selling the property. As the conversation wraps up, we learn about some of the difficulties they were faced with when trying to sell the property and the value in coming back to your business plan time and again. Tune in to hear it all!
Key Points From This Episode:
“Operational efficiencies create more value than just an interior rehab.” — Kyle Mitchell [0:01:26]
“The deal is never done until you actually close. You got to run it all the way to the very end.” — Gary Lipsky [0:10:40]
“It’s important to always reassess your business plan year over year.” — Kyle Mitchell [0:12:00]
Links Mentioned in Today’s Episode:
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