My first commercial Deal (luxury 8-plex)
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $410,000
Cash invested: $80,000
Luxury 10,000 square foot apartment complex by the water and near Downtown Moss Point, Ms.
What made you interested in investing in this type of deal?
I wanted to scale up and start tackling some commercial deals.
How did you find this deal and how did you negotiate it?
I found this deal on a bank foreclosure listing and I bargained with the bank for about a week to get the price down.
How did you finance this deal?
20% downpayment with a 15 year arm/5 year balloon
How did you add value to the deal?
Renovated all 8 units and did some major landscaping and design changes