I bought this 1920s building in its concrete shell.
It was a foreclosure and it took me over 2 years to finish the entire rehab and when I When I finished the 28 apartments, I knew that the property was worth somewhere around four and a half million dollars.
But when William Cabrera came to underwrite the building, he uncovered that it would be worth much more as a daily rental or boutique hotel building because of the zoning in the area.
After carefully marketing the building to specific buyers, William Cabrera was able to achieve a higher sales price than I originally anticipated.
He was able to successfully get this building closed for me at $6.4 million, roughly $2,000,000 more than I originally thought.
Can't wait to work with William again on the next deal.