Missouri Apartment Deal
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $2,350,000
Cash invested: $100,000
71 Units across four buildings. Value add opportunity. Seeking assistance with commercial property insurance and raising capital for the down payment.
What made you interested in investing in this type of deal?
Purchase is 33k per unit, with value add opportunities and room to raise rents.
How did you find this deal and how did you negotiate it?
PM selling it to me.
How did you finance this deal?
Still in the works!
How did you add value to the deal?
Cap Ex increases, adding exterior appeal and raising rents.
What was the outcome?
TBD!
Lessons learned? Challenges?
Challenge: 72% occupied upon purchase and to make the numbers work it needs more tenants.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Frontier PM in Saint Louis!
