Success: Track Record

Piedmont Manor Apartments
(421 Jefferson Street, Kernersville, NC)
Purchased Feb 2010.

• 58-unit complex purchased in February 2010 for $1,150,000
• $450,314 spent on Renovations
• 2 bedroom, 1 bath apartments
• The mortgage and operating expenses are $12,000 a month. Gross rent is $28,130 a month
• Property has a positive net cash flow of $16,1300 a month.

Completed Appraised Value: $2,300,000
Sold for $2,100,000 in Aug 2010

Regent Manor
(3900 Bethania Station, Winston-Salem, NC)
Purchased July 2008. Long Term Strategy.
• 24-unit complex was purchased in July 2008 for $275,000 with $125,000 in renovations; converted complex to 12 units.
• 3 bedroom, 2 bath apartments
• The mortgage and operating expenses are $4,200 a month. Gross rent is $8,880 a month. Property has positive net cash flow of $4,680 a month.
• Investment $400k. Appraised value $860k.

Kersey Manor
(2400 Kersey Street, Greensboro, NC)
Purchased Nov 2008. Sold July 2009.

• Purchased the property in November 2008 for $425,000.
• 2 bedroom, 1 bath apartments
• The mortgage and operating expenses were $5,500 a month. Gross rent was $9,100 a month.
• Property at point of sale had a positive net cash flow of $3,600 a month.
• Sold property in July 2009 for $750,000.

Chestnut Street Apartments (1634 N. Chestnut Street, Winston-Salem, NC)
Purchased Oct 2007. Sold June 2008.

• 18-unit complex purchased in October 2007 for $300,000; 12-unit complex also purchased for $225,000.
• ACT Real Estate combined the two units into a 30-unit complex.
• 2 bedroom, 1 bath apartments
• The mortgage and operating expenses were $6,000 a month. Gross rent was $13,500 a month.
• Property at point of sale had a positive net cash flow of $7,500 a month.
• The property closed in June 2008 for a sale price of $850,000.