260 Unit Value Ad Deal in Humble TX.

1 Reply

Investment Info:

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

260 Unit B class apartment complex I own and manage.

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

The opportunity for a value add strategy.

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

Broker brought it to me and I won the deal in a highest and best situation due to my footprint in the Humble market.

How did you finance this deal?

Agency Debt.

How did you add value to the deal?

Upgrade common areas and interior units.

What was the outcome?

Spike in cash flow and a current valuation that more than doubles investors money.

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

Worked with the listing broker.

This is a great counter example to all the people out there saying you can get good deals from brokers. If you have a better strategy or a competitive advantage, you can find/make great deals through brokers. Of course it is one of many strategies for deal sourcing, but one that shouldn't be ignored. 

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