Rental Property Investor · Clarksville, TN · Member since 2017 · 91 posts · 147 votes
Investment Info:
Large multi-family (5+ units) buy & hold investment in Athens.
7 unit Apartment Complex just outside of Athens Alabama, near Huntsville AL
What made you interested in investing in this type of deal?
The great cash flow
How did you find this deal and how did you negotiate it?
The deal was brought to me with the opportunity of being a private money lender on from an investment group out of Nashville. Instead we created a partnership and made the deal work together.
How did you finance this deal?
160k Cash PP with Investment LLC funding the Reno with Cash
How did you add value to the deal?
Adding new roof, all new split unit HVAC to replace window units and paint/clean up the grounds.
What was the outcome?
Still working on the renovations to do cash out refi
Lessons learned? Challenges?
First investment out of state for me. Being in Clarksville TN makes it manageable, only 2 hours away. Challenge will be building good contacts in the area.
Real Estate Agent · Redlands, CA · Member since 2017 · 199 posts · 487 votes
7y
Hey Bryce, I am working on adding central AC split units to some properties I have in Huntsville, if you don't mind me asking what were the quotes like to add the AC units and ducts?
Rental Property Investor · Huntsville, AL · Member since 2015 · 401 posts · 309 votes
7y
@Bryce Stclair awesome stuff man! I invest down here in north Alabama as well. Let me know if you ever need anything. I'm doing everything from SFR's to apartment complexes.
Rental Property Investor · Clarksville, TN · Member since 2017 · 91 posts · 147 votes
7y
@James Gates sorry for the late reply! We are going to purchase some locally in the Nashville area and have our labor force with the GC come down and install them. Still searching about on prices and the best unit to go with but I will keep you updated!