Bob Deis
Buckeye Real Estate
Randy Jackson
Jackson Real Estate & Development
An elderly couple had an office building, 24 apartments in Westerville and 32 acres of land in Delaware County in trust with a bank in hopes of receiving monthly income.
As the couple was receiving less than $2,000 per month - and sometimes no income at all, Bob began working with them in hopes of increasing return on their investments.
With power of attorney, Bob was able to sell the land to a builder for $1.5 million, and do a 1031 exchange with that money for 24 apartments in Hilliard for $1.2 million (listed by Randy Jackson). In addition, he refinanced the office building and turned over management of the 24 Westerville apartments. Bob worked on this from November of 2004 to September 2005.
Since completing the turnaround, the elderly couple has consistently received between $10,000 and $15,000 income each month. With this additional income, they have been able to make significant improvements to the properties, buy a new car, go on vacation and still have money left over.
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