Alex Gruye and Assaf Arie – All That Can Go Wrong When Buying a Rental Property

BIO: Alex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management who handle real estate investments, manage portfolios, properties, etc. STORY: A group of gentlemen approached Alex and Assaf to manage some single-family homes they had invested in. These properties started as a bad investment, but the duo restored them and turned them into tier-one properties. They later sold them for double the money the gentlemen had invested. LEARNING: Proper due diligence is paramount. Have the proper team with the right experience to help you pick and manage your property.   “Talk to a seasoned property manager; they’ll get you a lot of insight on the market.”Alex Gruye and Assaf Arie  Guest profilehttps://www.linkedin.com/in/alex-gruye-25ba5611/ (Alex Gruye) and https://www.linkedin.com/in/assaf-arie-05025038/ (Assaf Arie) are real estate property management brokers in Twin Cities, Minnesota. They’re partners at https://www.lionrockproperties.com/ (Lion Rock Property Management) that handles real estate investments, manages portfolios, properties, etc., and all of the headaches that come along with it. Worst investment everA group of gentlemen who had made their first multifamily investment in a couple of single-family homes came to Alex and Assaf for their property management services. The homes were in a less desirable, tougher side of town known for its problems. The owners had purchased the property blindly and with a lot of excitement, but it turned out to be their worst investment ever. The homes were in a poor state when Alex and Assaf started managing them. They received 14 pages of citations that were never even disclosed through the underwriting process. There were units where all of the windows were broken, and they had to replace every stove, every refrigerator, and every AC unit in all 20 units. Alex and Assaf planned to turn this from the worst investment ever to the best one ever. The properties were a tier