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Investors turn $100K school into 31 apartments

via CNBC
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Editor’s Note: This story has been previously covered by Moneywise and other outlets, which you can read here.

Real estate developers in the US are repurposing vacant office buildings into residential units, offering new opportunities for investors to diversify their portfolios.

A group in Pennsylvania turned an abandoned school into a modern apartment complex, demonstrating the potential of such projects.

In Pennsylvania, three investors transformed an abandoned school into a modern apartment complex. The group includes Jesse Wig, Adam Colucci, and Dan Spanovich.

The investors purchased Bowtie High, an abandoned high school in the Pittsburgh suburb of Homestead, for $100,000.

They worked to convert the property into a thriving apartment complex.

With an additional investment of $3.3 million, the team transformed the former school into a 31-unit apartment complex.

Online platforms like Arrived and Cityfunds by Nada are making real estate investment more accessible, allowing individuals to invest in shares of rental homes and diversified portfolios of owner-occupied properties in various cities.

First National Realty Partners offers accredited investors the chance to invest in necessity-based commercial vreal estate, managed by experts to provide quarterly income.

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