Several years ago we bought 219 W Alabama along with 502 W Alabama as part of the troubled “Skylane” pair of apartment buildings in Montrose. We worked fast to stabilize and upgrade them. Shortly after, we sold 219 W Alabama. While selling that property gave us the funds we needed to add additional units to our portfolio, we always wanted it back. So after a year of “hassling” the gentlemen that bought it from us, we finally were able to buy it back.

So as of mid June, 2017, 219 W Alabama joins the Fat Property team. It’s 32 units. Each unit has been heavily upgraded. As has the exterior of the building. Here are a few pictures. More soon!
        

Located just outside the loop, these three buildings represent another 110+ units for Fat Property.  The building is separately metered.  Most units enjoy central air.  There is an onsite leasing office.  And while this property is already running pretty well, we look forward to making it operate even better.

Three buildings make up this group of properties: 8535 Winkler St (“Winkler Apartments“), 5445 Winkler (“Belvedere Apartments“) and 8016 Meadowbrook (“El Dorado Apartments“) – Houston TX 77017

I know this isn’t the most exciting picture but it’ll have to do for now 🙂

One of the most common questions we get from prospective tenants is “Are you open on weekends?”.  Sadly, that answer was generally “no”.  There are a lot of reasons we didn’t do weekend showings, but that’s for another post.

However, starting next week, we’ll be open on Saturday from 10am to 2pm.  We’d still suggest setting up the time to view during the weekday as if you just come by our office on Saturday, we might be out at a showing.  Or if you’re an existing or future tenant that needs something at our office, I’d suggest calling to make sure we’re not at a showing when you come by.

Our office is located in the heart of Montrose at 3800 Garrott St, Houston TX 77006.  Our office number is 832-640-4444

For most showings, our team normally just asks if you’re going to meet at the property to call when you’re close to confirm you’re still coming by.  We’ll then leave to meet you.  That way, if you’re a little late, we’re not waiting on you.  And if you’re early, you’re not waiting on us.  And if you no-show, we won’t have our feelings as hurt 🙂

While most of our inner loop tenants know we have a great food scene, I’m not sure how well known this is to people outside of Houston.

So take a few minutes and ‘feast’ on this story…

(picture taken from the article)

Allow us to brag just a little…

As of October 2015, Fat Property has hit over $30,000,000.00 in deals done.  That doesn’t include any refinancing or deals done for others.  This is where Fat Property is principle.

The late Steve Jobs personally congratulated us*

* Okay… This may be an edit from an iPhone announcement image  🙂

Wait, what?  Green Lake?  Why?

Why not?  Green Lake is a cool place.   So if by chance you’re looking to rent a nice house on the lake for a vacation, give our little place a shot 🙂

More information can be found on our “Orchard house” page.

 

To be honest, we’re not sure what we’re going to do with this.  But some of the old photos of this place back when it was up and running made it too cool to pass up.

This property is located at 1110 Winbern, in the heart of Midtown.  It’s actually right across the street from our Fannin building.

Keey your eyes on our Winbern page for updates.

Taking advantage of historically low interest rates, Fat Property has secured new financing from Freddie Mac on a collection of their inner loop properties.

“This new financing will remove the uncertainty that existed with our previous loans, which were mostly done at 5 year terms a few years back.   It’s reassuring to lock in funds under 5% that we’re not going to have to think about for 10 years.  We were able to both cash out a bit and lower our monthly payment.” – Cody Lutsch, Fat Property

Fat Property worked with ReadyCap Commercial out of Irvine, CA on the deal.   And while Freddie Mac loans are known for their time consuming and paperwork extensive nature, the team at ReadyCap worked diligently to push things though.  Getting timely data helped.

“Cody and his team really helped make the process smooth from our end.  They were very fast in providing all the data and financials we needed.  Fat Property has a solid track record of performance in multifamily.  When dealing with a strong operator who can respond quickly, our job becomes much easier and we can be more effective” – John Drennan, ReadyCap Commercial, LLC

For more information about ReadyCap Commercial LLC, visit their site or see them on our friends page

 

Last year, Fat Property gave up management of the two properties located in the SE inner loop.  5610 Royal Palms and 6215 Tierwester.  As of this month, we’ve resumed.  Look for the improvements to come to both properties very quickly.

We’ll let Izaak talk about himself and his accomplishments on our chitchat page, but for now we’d like to take this moment to welcome him to the Fat Property team!   He’ll be taking on the role of operations director.  Basically running the office, dealing with vendors, and managing the staff.  It’s not an easy job, but he’s ready for it.