Dorothy Butala Rental Deal

 

Dorothy Butala Rental Deal

White Birch Holdings in Erie, PA

I mailed letters to apartment complexes in Sept 2020 in my area that were owned for at least 10 years, and ones that I felt I would feel proud to own. A few weeks after the first letter, I received a call from a gentleman who said he was going to sell the property in the spring, but we worked out a deal and went under contract in December 2020. The deal was funded through agency debt and syndication. Most of the property was tired and just needed cosmetic updates to maximize the monthly rent rates. Each unit has been allocated $5000 to update. Currently all the rents are anywhere from $75-$150 under market.

Rental Details

Property City: Erie
Purchase Price: $1,375,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

Fortune Builders helped with the understanding and use of direct mail, as well as analyzing updates and repairs needed to maximize the potential of each unit and the property over all.