All Forum Posts by: Matt DeBoth

What more are you wanting to know?

Investment Info:

Large multi-family (5+ units) buy & hold investment in Des Moines.

Purchase price: $725,000

21 Apartments, 1 commercial warehouse, 3 acres of commercial land all part of 1 parcel

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

Cash flow

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

broker

How did you finance this deal?

bank, $0 down

How did you add value to the deal?

new tenants

What was the outcome?

cash cow

@Hakeem VallesDid you find a property manager? Im also looking in the Des Moines area.

@Nicholas White I know the building your talking about. I actually own the 20 unit right next door. That is a great set of buildings your looking at. PM me and we can discuss it more.

@Aubrey Hardman they are very hard to come by anymore. I’ve been finding mine through word of mouth anymore. Seems like a dying trade. Check local and surrounding Facebook pages. I found a good dry wall guy that way.

I’ve been keeping my loans as is but utilizing the equity in them to be used as collateral for other projects. I’m not giveing up a 4% interest rate to do a deal. I’m just using a different strategy.

Why are there so many large vacant (or almost vacant) multi family complexes in Memphis, TN? I’m looking to invest in that area of the country but get worried with all the large apartment complexes that have such high vacancy rates. Is there to much housing? Lack of jobs? Just trying to find the missing peice of my investment puzzle.

I would refi now before rates get higher, then do the repairs. With the left over money I’d go invest it into another property.

@Kyle Baker are you buying it to lease it out or to actually run and operate the car wash?

@Kay March some smoke detectors have a plastic pin in the side to prevent it from turning. I’d check the sides and see if you can find it. The ones I’ve seen look like a small nail head.