40 unit value add

[Brandon Beatty]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Orange Springs.

Purchase price: $1,350,000
Cash invested: $350,000

40 unit value add apartment complex purchased from same owner of 40+ years

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

Same owner of 40 years and opportunity to increase rents by 400 a unit

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

Off market direct to seller

How did you finance this deal?

Bank recourse

How did you add value to the deal?

Large renovation budget

What was the outcome?

Increasing value by 800k

Lessons learned? Challenges?

This was my first commercial property with flood insurance and I learned a lot