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Value-Add Multifamily: Raising Rents From $575 to $915 With Almost No Rehab w/ Charles Seaman
Charles Seaman raised rents from $575 to $915 at a 48-unit value-add multifamily deal with almost no renovations. Here’s exactly how.
Charles Seaman has syndicated over 1,100 apartment units and $110 million in value-add multifamily deals, after 14 years in acquisitions and operations for a New York commercial investor. He walks through his best deal, a 48-unit property in Sumter, South Carolina, where closing the rent gap to market did most of the work in the first three months. He also explains why he’s not smarter than his competition, and how moving faster won him an off-market deal…
The skinny
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