All Forum Posts by: Cassidy Burns

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $160,000
Cash invested: $30,000

Renovation Project.
Purchase Price: $160,000
Closing Costs: $8,000
Rehab Budget: $60,000
Closing / Sales Cost: $22,000
Holding Costs: $6,000
Projected Sales Price: $275,000
Projected Profit: ~$20,000

We are doing another renovation project in the area so able to keep crews circling.

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

Needed next project and have project 3 miles away currently active.

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

Wholesaler

How did you finance this deal?

Hard Money Lender: 100/100

How did you add value to the deal?

Renovations: $60,000

What was the outcome?

TBD

Lessons learned? Challenges?

We want to get into higher price points, but will continue to take projects as they come.

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

BPG Residential

📢 BPG's October Investor Meet-Up!

Join us for an exciting and informative meetup on October 29, Wednesday, at 6 PM!

📍 Venue: BPG's Office at 1009 Duke St., Alexandria, VA

Hosted by: Cassidy Burns

Special Guests: ✨
• Marcus Goodwin - Managing Director at Cushman & Wakefield, specializing in office and retail leasing.
• Dennis Cravedi - Senior Vice President at Horvath & Tremblay, expert in multifamily and development asset sales in the DC area.

Topic: Commercial Broker Panel

This is a fantastic opportunity for investors and real estate enthusiasts to gain insights from experienced commercial brokers. Our guest speakers will share their expertise on current market trends, investment strategies, and answer your burning questions about commercial real estate.

🤝 Meet fellow investors, share experiences, and build valuable connections in the industry!

Don't miss out on this chance to enhance your knowledge and network with industry professionals!

🔗 Register Here: https://www.meetup.com/bpg-residential-investor-meet-up/even...

We look forward to seeing you there! 🎉

Right now we are seeing $110/SQ FT for Rehab, $135/SQ FT New Construction AT COST (we own the construction company.)

So I think that's very reasonable. We are in the Northern and Central VA area.

@Lisa Park  The Shenandoah Valley has been a great option for alot of our DC/ NOVA clients. I recommend reaching out to @Michael H. Cook , he's an expert in that market. 

Hi @Benjamin Louie we are actively negotiating with a national tenant for our largest space and looking at regional for our smaller spaces

Hi @Kevin St-Fort, yes there will be. September 24th

Investment Info:

Office Space commercial investment investment.

Purchase price: $275,000
Cash invested: $55,000

Newest Acquisition. Office Building in Waynesboro, VA. 1,577 SQ FT space, in amazing condition. 8 parking spaces.

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

Long term vision of BPG

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

On Market, submitted LOI

How did you finance this deal?

75% Debt, 25% Equity.

How did you add value to the deal?

Lease placement will increase value significantly

What was the outcome?

Leasing up currently

Lessons learned? Challenges?

Was going to use our hard money lender to acquire, but they didn't do commercial so I went traditional bank financing. Took more money down.

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

BPG Residential agent Alex York.

Investment Info:

Retail commercial investment investment in Harrisonburg.

Purchase price: $3,200,000
Cash invested: $800,000

1st Acquisition in our Commercial Opportunity Fund. We were able to negotiate great seller finance terms with 20% down, a 4% interest rate for the first 2 years, and a 5% interest rate for the remaining 8 years, fully interest-only. This asset is under rented ($9.62/ SQ FT) and our value add strategy is by placing long term leases into the 1 vacant space and bringing the other current tenants up to market value rents (~$14.50/SQ FT).

Investment Info:

Retail commercial investment investment in Harrisonburg.

Purchase price: $3,200,000
Cash invested: $800,000

1st Acquisition in our Commercial Opportunity Fund. We were able to negotiate great seller finance terms with 20% down, a 4% interest rate for the first 2 years, and a 5% interest rate for the remaining 8 years, fully interest-only. This asset is under rented ($9.62/ SQ FT) and our value add strategy is by placing long term leases into the 1 vacant space and bringing the other current tenants up to market value rents (~$14.50/SQ FT). We are justifying these eventual rental increases by investing back into the building and the tenants. We are doing exterior paint of the building, new lighting in the parking lot, exterior fence around the perimeter of the complex, and a new monument sign to help with tenant exposure.

📢 Final Call to Register! BPG Investor MeetUp Happening Tomorrow! 🎉

Event Details :
- Wednesday, August 27 🗓️
- 6:00 PM - 7:30 PM 🕕
- BPG's Office, 1009 Duke St., Alexandria, VA 📍
- Topic: State of the Market: DMV Multifamily Real Estate. 🏢
- Guest Speaker: Felipe Ernst

Why Attend?
- Network with fellow investors
- Gain expert insights into the market

🔗 Register now: https://www.meetup.com/bpg-residential-investor-meet-up/even...

We look forward to seeing you there! 👋