As 2012 comes to a close…

It was a busy year for Fat Property.  Lots of new projects and properties, including a few firsts.  Here is a quick recap:

  • 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)

Other activities

  • 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.