It was a busy year for Fat Property. Lots of new projects and properties, including a few firsts. Here is a quick recap:
- 01-12: Bought a small 5 unit in Montrose (406 Hawthorne), in the lovely Westmoreland subdivision. Our first with a pool.
- 03-12: Bought a 9 unit in Montrose (1424 Marshall)
- 07-12: Hired a new property manager for the Montrose area. Christopher Wilkerson
- 07-12: Bought a 10 unit property in Montrose (4315 Jack). Our first with a billboard! 🙂
- 07-12: Brought on ADP to assist with payroll.
- 09-12: Hired a new property manager for the Midtown area. Stefan Kovac
- 10-12: Bought our largest inner loop property to date. A 56 unit in midtown (“Holman“). This represents our first entry into Midtown
- 12-12: Sold a 9 unit in Montrose (1424 Marshall) we had bought earlier in the year to help fund some larger projects.
- 12-12: Bought a new building in Montrose to serve as our office (3800 Garrott)
- We added 5 people to payroll to help with our Montrose properties
- We added 6 controtrs to our Midtown group to specifically focus on Holman and future projects.
- We won our first “Swampie” award. Or at least Holman did. In a new “It’s Alive!” category.
- We’ve begun making several offers on new properties in the midtown area, which will be our target for growth in 2013.
- We remained one of the top most active multifamily real estate companies in the Montrose area.
- The company generated over $1,000,000 in rental income for the first time.