INGRAM WOODS is an asset of 40 units purchased for $730,000 in High Point North Carolina. NEG, LLC discovered this in 2012 and kept an eye on it for over 8 months. We eventually determined the right time to offer, and ended up negotiating the price down from the original $1.2 million asking. It sits on five acres, with the potential of ground up development for another 30-50 units. The building has maintained a 90% occupancy or higher for the past three years. The value has close to doubled while the initial capital has been pulled out through a refinance.
