Updated 2 months ago on . Most recent reply
From two homes 7/3.5 to an 11-unit motel
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $300,000
A property I sold to an investor. I'm helping with his vision and positioning for rentals. It's two homes (4/2.5) and (3/1) being turned into a small hotel with a total of 11 units having individual bathrooms. It's on the West Brow of Lookout Mountain, GA and will have an observation tower.
What made you interested in investing in this type of deal?
I enjoy working with creative investors positioning unique properties for best and highest use through my experience in selling, designing and marketing to what's best for the property.
Residential and Commercial
How did you find this deal and how did you negotiate it?
I was representing the seller as their agent
How did you finance this deal?
My buyer financed
How did you add value to the deal?
Helping with the bigger vision in design and marketing
What was the outcome?
It's currently under renovation
Lessons learned? Challenges?
The property was not a typical residential SF home sale nor flip, it needed an investor with an eye for something different. This was difficult for the seller to see, as the property was passed down from their deceased father and there was a lot of emotion wrapped around the value they believed it held.