how to fail a perfect good project................

[jy101]

I got an agent call me about this property......

1.05 million dollars, only 48 units renovated, that is 20k / door!!! I wonder what is the world they spend all the money on...

----------
Description
The property has 29 buildings with gross square footage of 231,000 SF including 156 one bedroom (570 SF) units and 192 two bedroom (740 SF) units. The community is located on an 18.62 +/- acre site and is constructed of two-story wood-frame with brick veneer and vinyl sided exteriors, concrete slabs, and pitched asphalt shingle roofs. The property was in process of a renovation and repositioning program when that was halted in February 2014. The property offers substantial upside for a buyer who completes the renovation and continues long term ownership with professional property management. Property amenities include a leasing and management office, a two-story community building with laundry facilities for the tenants. There is room to reinstall an Olympic size swimming pool. The tennis courts and the large playground area have already been removed and demolished by the owner. Oaktree was built in 1969 and has had over $1.05 Million Dollars in capital improvements beginning in 2013. Improvements in 48 renovated units include new carpet, cabinets, appliances, paint, lights, fans, furnace, tubs
and sinks. Some have new windows and patio doors.

Oaktree Apartments is a 348 unit community located on the northeast side of Indianapolis at 9012 Pinehurst Drive North, Indianapolis, IN 46235.

[比花花还花]

just buy everything expensive, and pay people not doing the work. The management pocked the rest.
Today I found a place to buy 5-gallon paint for $30, a 80% discount buying from Sherwin. well, color choice is limited. but I brought 5 buckets of same color.

Is this another fish that we are hunting for this year?