The property had all the problems.

So not only did it have the down units,

but the rents were really, really low

because she was mama pop and she didn't want to push the rents.

And so when that happens, you're typically attracting a certain demographic when your rents are like the cheapest in the market

And so I remember being out there for the inspection day and we had a drug deal go down there was prostitution

on the property there was definitely a lot of drugs going on on the property

middle of the day I think it was like a Monday, and I remember

being the parking lot and the cops pulled up in the middle of our inspection.

Welcome to the Rich Drummers Report where we talk real estate, business, and wealth building all while keeping it real.

No fluff, no BS.

I hope that you enjoy the show.

All right guys, welcome to another episode of the reports in this episode. I am

going to talk about what it was like buying a 32 unit apartment building, value add, repositioning it, the business plan, forcing the equity,

forcing the appreciation, and then exiting and selling the property two years later for 3X of what we bought it for, having a nice payday,

and then 1031 exchanging out of that deal into more real estate.

So be sure to stick around to the end.

There's a lot of useful information in this episode.

So why 32 units and why Indianapolis?

This is going back a little bit.

This is 2019.

Right when I was first getting into real estate, I had just bought an 11 unit apartment building in Cincinnati, which was my first deal, and I had cashed out my 401k to fund the down payment and renovations for that property. And I had some left over and I also pulled out a home equity line of credit from my

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