Value-Add Fixer in Bakersfield

[Matthew Pearson]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Bakersfield.

Purchase price: $2,000,000
Cash invested: $250,000

32 Unit Lower Income Complex

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

Better Cashflow compared to "Core" Areas

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

Loopnet listing, negotiated with Seller's Agent

How did you finance this deal?

Loopnet

How did you add value to the deal?

Raised rents and rehabbed units as they became vacant.

What was the outcome?

Monthly Gross Rents went from $20k to $27k

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a residential and commercial agent.

[Sanjeev Advani]

@Matthew Pearson This sounds like it is going to be a pretty good deal.  Are you planning on keeping the complex or flipping it once optimized?