We are currently educating potential partners on the future purchase of a real estate investment in the city of Austin, TX. This project will consist of diversification into two properties, both over 30 units in size, a combined market value between 3.5 and 5 million dollars. The capital team will benefit from diversification of both physical locations and property types. We are targeting one stabilized property, with a positive cash flow already in the investment, and a secondary property, in need of renovation. Our objective is to have a renovated second property within three years of acquisition, bringing rents up to market and allowing the capital team to recoup a portion of their contributed capital, enhancing yearly returns.
If you are interested in hearing more about the properties that we are targeting in Austin, please reach out for additional information. As we pursue this investment, additional opportunities have been discovered in Texas which we may pursue in the near future.