Progress Report March 2010

Operations progress for Incline has been significant. 

• We have replaced all exterior lighting and signage.
• We have evicted 2 problematic tenants.
• One laundry room has been updated with new coin op machines being installed for additional revenue.
• 15 Units have been completely renovated.
• 5 more units are currently being renovated with an expected finish date of March 30th.
• As of March 1 our team has leased up a total of 20 units.   
  • 10 are renewals and have signed new leases
  • 10 are new move-ins.
  • Achieved 50% occupancy of paying tenants within 2 months of ownership.
• Additionally, our team has applications for the next available units that are renovated.
• There has been an increase in cash flow from Jan to Feb of 63%.   

We are pace to be cash flow positive from operations by May 1st.

Check out some pictures of one of the completed units.

We will continue to provide monthly updates and as always don’t hesitate to contact our office with any questions.

-The National REIS Team