Investment Info:

Large multi-family (5+ units) commercial investment investment in Memphis.

Purchase price: $2,600,000

Cash invested: $320,000

80-unit property syndication

What made you interested in investing in this type of deal?

My partners had previous experience in the market.

How did you find this deal and how did you negotiate it?

Loopnet

How did you finance this deal?

Freddie SBL loan with Arbor

How did you add value to the deal?

We defined a renovation plan with the Property Manager

What was the outcome?

Property is cashflowing.

Lessons learned? Challenges?

We bought from a mom and pop owner, that led to difficult negotiations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Philippe Schulligen Congrats on your first deal and first deal is always the most difficult deal and looks like a good deal . I have some questions.

Did you have investors in the deal?

Are you paying your investors a preferred return in this deal?

Did you pay only 12% down and still Freddie gave 88%LTV?

How did you financially structured the deal, can you please elaborate  on that?

@Philippe Schulligen congrats on your next deal!

@Kay Kay Singh I believe Philippe already have more than a couple of very successful deals under his belt. 

Originally posted by @Kay Kay Singh :

@Philippe Schulligen Congrats on your first deal and first deal is always the most difficult deal and looks like a good deal . I have some questions.

Did you have investors in the deal?

Are you paying your investors a preferred return in this deal?

Did you pay only 12% down and still Freddie gave 88%LTV?

How did you financially structured the deal, can you please elaborate  on that?

Yes we did a syndication with investors. No pref return. "Cash Invested" did not include the 20% for the loan. General Partners and Investors brought down payment + renovation + closing costs to the table.

P.

See my blog post in relation with this first deal: https://www.biggerpockets.com/member-blogs/12850/88985-first-deal-acquisition