Here is an example of this strategy in action: I bought a 32-unit property in Huntsville, Alabama, for $614,000. At the time, Huntsville was an emerging market. I held the property for 18 months and resold it for$1,100,000. After all costs, the profit was close to \$430,000.
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owner: Redemption - (no access) - [David_Lindahl]_Multi-Family_Millions_How_Anyone_(b-ok.org).pdf, p66