Malti Family - What's Your Recipe for Success?

The property tax was wey over valuated when i came in, they had a property tax of forty eight thousand dollars on the property. The owner was a second generation owner who inherited it. She was sitting in southern california, visited the property maybe once every two years. Was completely disconnected from the property. Her rents were probably averaged ten % below value. So just on the loss to lease, if you extrapolate that five sand dollars over 12 months, that 60 thousands dollars in value add. At a ten percent cap rate, you're adding 600000 dollars in value. At a five per cent cap rate,. you're adding one point two million in value ad really quickly.

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