by metro | Aug 17, 2022 | Blog
James Wilkens was the first official tenant I met at Summerdale. We were racing to procure $9,600,000 in funding to close Summerdale, but in the meantime, the contract gave us 45 days to complete our physical inspections. If for any reason we didn’t like the...
by metro | Aug 17, 2022 | Blog
“The Tenants at Summerdale” After saying goodbye to James, we went to inspect the neighboring unit. Mr. Hayes knocked on the door and screamed “Management”. Within seconds after the knock, Miguel Valdez answered the door and smiled at the group. He was expecting us....
by metro | Jul 29, 2022 | Blog
“The Tenants at Summerdale” Two young women sat nervously in the corner and on the floor of the next unit we inspected. Mr. Hayes had knocked on the door several times with no response and finally Maya stepped forward to open the door with her key. ...
by metro | Jul 29, 2022 | Blog
We signed a contract to purchase Summerdale in November 2017 at a price of $5,200,000 which was a bargain for a 244-unit apartment deal or $21,300 per unit ($5,200,000 divided by 244 units=$21,300-unit). Think of this price as purchasing a house for $21,300 –...
by metro | Jul 29, 2022 | Blog
In 2017, my partners and I were offered the opportunity to purchase this 244-unit severely blighted/boarded-up apartment community in Southeast Atlanta called Summerdale Apartments. Should we buy it? Would you buy it? First some background. My company TriStar...
