Last month, I did a site visit to our most recent acquisition Augusta Place Apartments in North Little Rock, Arkansas. The site visit went great, and I’m super excited about completing our business plan and creating passive income for our investors!
They say the most important thing about real estate is location location location. If that’s the case, we are in great shape at Augusta Place Apartments. There are several apartment complexes in the area, but ours is at the top of a hill, overlooking the surrounding trees and rolling hills. The view is great up there. If I were looking for an apartment in that area, I would want to rent at Augusta Place!
In addition, the team we have on sight is great. They previously managed the property for the previous owners so they are very familiar with it. In addition, they are well underway executing our business plan by efficiently turning units over, getting much higher rents, aggressively marketing for new tenants, and taking great care of the tenants there. Selene is the on-site property manager and she is fantastic!
Lastly, my visit confirmed that our apartment complex is very desirable in that market. I was standing near the entrance for about 30 minutes and during that time no less than five people drove up and asked where the leasing office was.
Location, the in-house team, and market growth are just a few of the factors we use when evaluating a potential investment property.
Please let me know if you have any questions.
I’m also pleased to announce that we have completed due diligence on our newest asset, in the Houston Marketplace. This is already a stabilized property in a great working-class part of town.
To be the first to know about our new project, please join our Advanced Notice list. I look forward to giving you more information very soon!