Orchard Manor Townhomes
Louisville, Kentucky
A value add / momentum play in the desirable and quickly growing Hikes Point neighborhood only a half mile from major national retailers. With the addition of new, highly competent management we plan to execute a business plan of renovating units, incorporating multiple capex project and bringing our units from some of the lowest rents in the area to the middle of the pack. We partnered with highly knowledgeable and seasoned operators with years of multifamily experience.
Northside Townhomes
Hickory, North Carolina
Value add through renovations and operational upside. After purchase we hired strong professional property management to help us lower operating expenses and increase rents thus increasing our net operating income. It was important to bring in a qualified property manager (PM) that was on board with our business plan of light rehabs from the beginning. Following this plan we have risen rents on average $139/door and added a water fee all within the first two years of ownership. Northside is centrally located in Hickory, close to local schools, shops and businesses of the downtown area, it is less than an hour from Charlotte.
Briarwood Townhomes
Hickory, North Carolina
Value add through operational upside and light renovations. Purchased from mom and pop, self managing owners ready to get out. We were able to negotiate a "dead deal from the Loopnet graveyard" into something viable. This was RYDON's start in out of town ownership, we were able to bring on qualified management, after some trial and error, and begin turning units increasing value. Largest value add came from lower expenses over $500 per door! Various capital expense projects (capex) were completed and units were turned allowing us to bring them to market, increasing our overall net operating income.
Monhagen Ave Apartments
Middletown, New York
Value add through raising rents to market, a self managed property. This is where we cut our teeth, Don meticulously maintained the property, including capex such as a brand new energy efficient heating system, new EPDM roof and unit interiors. He also collected rents door to door, worked with tenants, completed the marketing, showed units and so on. Ryan mowed the lawn, cleaned units and helped with turns; we learned the apartment business here. We also learned why 3rd party professional management and solid, conservative underwriting is so important.
Florida Equity Fund
State of Florida
Stabilized apartments in premier cities throughout Florida. Over 1,000 A and A+ units with ultra desirable finishes and amenities for the discerning professionals and families. These are newly built communities with easy access to some of the best dining, shopping and entertainment in the state.
