128-Unit Riatta Ranch Apartment Acquisition in Abilene, TX with Chihiro Kurokawa, Apartment Building Investing Expert
Multifamily Investor Nation
English - May 19, 2019 10:00 - 44 minutes - 40.5 MB - ★★★★★ - 131 ratingsInvesting Business Education realestateinvesting cashflow investing realestate business multifamily apartments apartmentinvesting marketing entrepreneur Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Dan Handford with PassiveInvesting.com discusses the 128-unit Riatta Ranch apartment investment that acquired by Chihiro Kurokawa with Blackriver Equity Partners. This asset was acquired with in-place occupancy of 94%. The market cap rate was 6.4% and this was low due to the high expense % of 76% upon acquisition. The adjust going-in cap rate assuming a 52% expense ratio was 9.8%. The projected returns for passive investors on the 5 year hold was great.