Hello, Green Springs’ Investors!
As our company continues to grow and our investment opportunities expand, we want to take some time each month to highlight our works in progress, success stories, as well as our latest opportunities for you as investors to participate.
In January, we successfully acquired 101 & 107 Uniion Ave – our most expensive acquisition to date – we are very excited to get started transforming this property and taking it from good to great! Thank you to all our investors who elected to participate – real estate investing is a team game and we would not be able to grow in the extent we have without your trust and support. Thank you.
For this month, we thought it would be beneficial to provide an example of a full cycle – purchase to sale – a project we recently sold in November. We hope the information remains informative and if you have any questions or would like to speak about future investment opportunities, please click the link below to schedule a call.
Case Study – Full Cycle Investment
Our highlighted investment for this month is a 4-Unit Apartment Building located at Cossayuna Lake in Argyle, NY. Set in a rural lakeside community that sits about 45 minutes East of Saratoga Springs, a picturesque setting, but with sub par management and dated interiors we saw opportunity. We purchased the property in 2017 for $160,000, with a business plan to turn over the entire tenant base, perform cosmetic renovations, and re-lease at market rents to qualified tenants.
$42,000 in capital expenditures included:
- Remove carpet & install LVT flooring
- Upgrade dated appliances to stainless steel
- Install new lighting fixtures & ceiling fans
- Upgrade door & cabinet hardware
- Upgrade plumbing faucets and shower heads
- Repainted all interior surfaces
- Installed gutters & landscaping
- Rebuilt private gravel roadway
- Installed privacy fence
- Installed window treatments
Annual Cash on Cash Return
in 4 years
Project Complete – Granite St – Saratoga
Our team recently finalized construction and lease out of 17-21 Granite St in Saratoga Springs NY. The project was a tremendous success as our team did an amazing job with the renovation and met all projected rental rates. We will highlight the financial performance in a future newsletter. Please follow the link below to take a look at a 3D tour of the finished product! Thank you to our investors that participated on this project. We expect to return investor capital within 30-45 days – with interest!