CASE STUDIES

CASE STUDY 1

Issues with property before acquisition
- Awkward floor plans due to conversion to a duplex
- Outdated everything- paneling, electric, water heaters,bathrooms, kitchens, etc.
- Had been unoccupied for 6 years
Value adds implemented after acquisition
- Complete remodel of both apartments, every room!
- Floor plans were adjusted to suit best flow (ie, switching the kitchen and bedroom downstairs)
- Gas lines were separated and updated
- Common area laundry was added
- Rock driveway to add parking space

Issues with property before acquisition

Shared bathroom between units upstairs. New bathroom needed to be added
Outdated everything- paneling, electric, water heaters, heating system (gas to electric), bathrooms, kitchens, etc.
Had been unoccupied for over 15 years
Fire separation to be added all throughout the units

Value adds implemented after acquisition

Issues with property before acquisition
- Foundation needed emergency repair before collapsing
- Porch was a hazard to the public. Siding was exposed.
- It had no gutters and facia needed serious repair
- Tons of garbage filled the basement and garage
Value adds implemented after acquisition
- Porch was removed, a new one was built along with a portico. The exposed siding was replaced with new vinyl
- Foundation repair. Fixed a 7-inch gradient to 3 inches
- Barn door, shutters, and flower beds added for curb appeal
- All garbage was removed (2 dumpsters and 9 truck loads)
- Retaining wall was replaced with proper irrigation system
- Gutters added all around the house
- Brand new kitchen

Issues with property before acquisition
- Filled with trash from previous tenants
- Roof needing repair
- All plumbing and electric were stripped from trespassers
- All plumbing needing replaced
Value adds implemented to date
- Emptied all trash
- Installed fire-rated walls per engineer direction
- New kitchen and bathrooms installed
- Removed all overgrown bushes and landscaped
- All new electric and plumbing being installed
- All walls being painted