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OTP Is a Revolutionary Private Grass-Roots Effort To Acquire, Update and Renovate Aged Small Apartments To Create Quality & Affordable Workforce Housing
OKLAHOMA CITY, OK, UNITED STATES, November 20, 2024 /EINPresswire / -- NEWS PROVIDED BY:
First Cornerstone, LLC
November 20, 2024
HOUSTON, TX, November 20, 2024 – An embodiment of the American free enterprise system applied to confront two concurrent national crises, the grass-roots small apartment
investment campaign, Operation True Potential (OTP), launches its inaugural buying tour in Oklahoma City, OK on December 6-7.
Launched by veteran real estate entrepreneur, #1 bestselling author and small apartments investment champion Lance Edwards, OTP is a private effort of everyday Mom & Pop real estate investors who are taking control of their retirement portfolios and financial futures by acquiring, updating and renovating aged small apartment (2-100 unit) rental stock to create affordable workforce housing, with modern amenities.
Funded by their personal funds, and/or mission-driven private investors, their dedicated work is addressing both the affordable housing crisis and the retirement security crisis.
The Two-Day Experience
Participant Mom & Pop investors in the two-day event will be introduced by a local broker to potential small apartment properties that are ripe for purchasing and transformation. After evaluating the properties in the conference room, the participants will be taken on a bus tour to check out the buildings in person. They will then go back to the broker to make offers to purchase. The goal is that by the end of the two days, participant investors will hold a signed Letter of Intent (LOI) to purchase, and ultimately will tap into their personal resources and/or outside private funding to make their purchases and begin the OTP transformations.
Unique Collaborative Model of Transformation
Post-event, these new Mom & Pop owners will collaborate with each other to increase the operational efficiencies of their acquired properties under a model developed by Edwards known as Networked Apartment OwnershipTM (NAO). This group will meet monthly via Zoom to support each other, with a focus on improving their properties. NAO is designed to be a catalyst to creating economies of scale and is facilitated by the collaboration of these like-minded owners, working in concert with pre-selected property managers. Owners will share both ideas and resources across their properties, as in a fractional staffing model.
Building on Two Prior OTP Proof of Concepts
Edwards has two investment and rehab experiences that serve as proof of concept for the nascent OTP movement. The first was a 44-unit property in Fairmont, WV that he acquired during the pandemic. Edwards took the rundown property, with only 22% occupancy and numerous dope dealers living on the premises and stabilized and updated it very quickly to turn it into stable workforce housing. Within 90 days of acquisition, he hosted a grand opening spotlighting the transformation to the city's mayor, members of the Chamber of Commerce, city influencers and the local media ( ). Ultimately, the immediate community around the property was likewise cleaned up.
He repeated the coup a year later (March 2022) with Ridgewood Village Apartments, a 56-unit property in Moore, OK. With minor dope traffic loitering the parking lot of the 60-year-old property, and its surrounding homes, he and his team stabilized and updated the property, turning it into stable workforce housing. The OTP effort again received accolades from city council, neighbors, police, the Chamber, and local media ( ).
About Lance Edwards and First Cornerstone Group, LLC
A 20+ year small apartment investor, Lance Edwards, through his many years of bootcamp training via First Cornerstone Group, LLC and his Small Apartments School, has mentored thousands of aspiring small apartment investors, and helped them achieve their financial goals and dreams. He is the #1 bestselling author of How to Make Big Money in Small Apartments and Apartment Alchemy: 50 Ways Small Apartment Owners Can Boost Their Cash Flow and Wealth.
For more information, please visit: or ... or call 405-253-6510.
Lance Edwards
First Cornerstone Group, LLC
+1 405-253-6510
...
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