Fernando Angelucci talks about an existing facility in Rayne, Louisiana that is pretty stable. Existing earnest money is about 50,000 with a price of 1.2 million, which equates to about a 7.4% cap rate. It has a population of 500,000 people in the area with a Median Household Income of around 31,000.
There’s still an opportunity to add some value to it including raising the rents to market rate. The existing manager would like to stay in is actually highly recommended. Net Rentable square feet come out to 24,500, meaning 216 units.
Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,