We purchased the Raleigh Manor in 2015 for $7,050,000. The project included re-skinning the south and west sides of the building (shown above) with newly painted HardiPlank siding and designer wood accents. This broke up the monotony of the vinyl siding, added color and made the building (built in 2000) look like newer construction.
Together with the updated exterior and our usual interior remodels, we have were able to significantly push rents. Updates commenced 2015 and finished in 2016. In 2017 we refinanced the property and distributed a 17.8% return of capital
In February 2019, we sold the building for $12,300,000.
$7,050,000
3.5 Years
$12,300,000
Sale Date
45%
17.8%
Equity Returned via Refinance
6.96%
Cash Flow
Achieving Your Vision
Planning for retirement is essential to your long-term financial well-being. At Finovate, our experienced team collaborates with you to identify your retirement goals and crafts a tailored, comprehensive strategy to help you achieve them with confidence.
How Can Our Team Help You to Reach Your Goals
Learning About You
Schedule a 30-minute call with our professional to discuss your goals and how we can help. This phone or Zoom call also outlines who we are and our process.
Organized Meeting
Meet with our team to gather the necessary data for your Financial Plan. We’ll discuss your finances, lifestyle, and goals, including investments, assets, expenses, and income.
Plan Meeting
Our advisor will present your personalized financial plan, ensuring it aligns with your evolving needs and goals, and provide clear steps to help you reach your financial objectives.
Implementation
Your advisor will send a copy of your plan with an actionable list of recommendations. We’ll implement and manage these, keeping you updated.
