Updated almost 7 years ago on . Most recent reply
Multi Family Cash Cow...
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $2,000,000
Cash invested: $1
76 unit value add apartment complex
Currently cash flowing at a 9 cap rate with 17 empties
The plan is to invest 20,000 in renovations into the empty units and have it performing at a 14.5 cap rate.
Property was purchased with the seller carrying 10% and the other 10% was secured through equity in other properties.
What made you interested in investing in this type of deal?
The large amount of upside in the deal. Also, the ability to refinance and bring home a much higher return.
How did you find this deal and how did you negotiate it?
The listing was public on the MLS. I negotiated it as a buyer/agent.
How did you finance this deal?
Partial seller finance. The bank financed the rest.
Most Popular Reply
Ok and are those typical cap rates in that area and how is the population and job growth there? Also do you see the market on the rise over the next 3 years you guys plan on holding