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New Year, 2 milestones!!!

帖子发表于 : 2015-02-20 19:30
jy101
one day, 2 major milestones for our company!!!

Autumnwoods Apartments, now 11 months into operation, we bought this property as REO in March 2014, renovated, improved its occupancy to above 95% and it is appraised for 4.4 million. Today we completed its cash our refi with a non-recourse loan, this is our first commercial refi and we took it very conservatively, only 45% loan to value.

Towne Terrace Apartments, this be our 10th group project, I am hoping it will achieve 90% occupancy within next 6 month.

Happy New Chinese New Years to all my friends!!!

Thanks a lot to JY and TT for getting it down.

帖子发表于 : 2015-02-20 20:02
jeepster
Looking back 11 months ago, lots of hard work. It shows again who we are and what we can do.

Looking further back to September 2012, when we started this venture, with 19 members, only one project, a 29-unit apt complex, now we have 100+ members, 10 projects in 4 different states.

Dream big and aim high

Re: New Year, 2 milestones!!!

帖子发表于 : 2015-02-20 21:46
jy101
Autumn Woods really is a perfect project, REO, discounted price, 210 units, highly stable tenants, 60% appreciation, all within 12 months, can not do better than that...

Re: New Year, 2 milestones!!!

帖子发表于 : 2015-02-20 23:42
monkeyboy
This cashout refi is the very first one in the history of our TZLC grop projects, we took a very conservative approach.

Our debt coverage ratio is 2.4. This means had we borrowed twice of our loan amout, we would still have money to pay out cash flow distribution to our investors.

2.5 years ago, we founded the company with 19 members, merely 330K capital, 1 property, 300K book value.

Now we have 10 properties, estimated 15 million book value.

Growing company book value to 100m is not a fantasy any more, it is an achievable goal.

新年好兆头!

帖子发表于 : 2015-02-22 23:54
千里66
希望公司越办越好,越办越大!

Re: New Year, 2 milestones!!!

帖子发表于 : 2015-02-23 12:20
小飞虹
新年开门大吉! @onion25@