All Forum Posts by: Melanie McDaniel

Thanks, @Patti Robertson! How are you? I miss my VA RE family!

@Rick Pozos, it was a syndication 70/30 and 80/20 depending on share class. I think we paid around $10-$11M.

Hey all! Sorry, I uploaded this now but we closed in Sept 2021. I don't think we are ready to sell, we haven't gotten much of our business plan completed, so we are still working on that. : ) I can come back to this fee when it is time. @John Mazzella @Benjamin Hirsh @Rick Pozos

@Siah Hawton I love NNN, but as it is in all things, it depends. I would say everything is deal by deal, and nothing is the perfect asset class. Everything has its pros and cons, but I think the operator is the key piece. If you are the operator and you don't know what you are doing, I guess you have to ask yourself how much risk you are willing to take. You don't know what you don't know, but if you have liquidity and have a good head on your shoulders, NNN is pretty straightforward. Hire a lawyer to review the lease, and have at liquidity to hold the property if your tenant leaves in the middle of the night. If this is your first deal, I would consider finding a partner who knows what they are doing--the bank may require that anyway.

Investment Info:

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

108 Unit B- Class apartment complex in San Antonio, TX.

Investment Info:

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

Purchase price: $1,430,000
Sale price: $2,800,000

My partners and I bought a 24-unit, C-class apartment in Nofolk, VA, January 2020. Covid was tough on us. Our bank gave us four months of forbearance, which kept us afloat, but barely. At many points in the two year hold we had 10 paying units, but a 100% occupied property. The moratorium assistance came in very sporadically. We had one cycle of having to fire a PM, countless evictions, but finished the cycle with a sale at twice what we bought it for. We turned about $360k into $1.7M. Not bad.

Hey! I don't live there anymore and I am now a commercial real estate syndicator, not agent. My team is still active there and they focus on investment property, I would be happy to connect you. Also happy to answer any questions I can help with.

This is the FIBI Austin/Virtual: Investing for Financial Freedom kick-off event! It will be pretty low-key as far as agenda, but the networking will be on point! I have a lot of investor buddies in Austin, so there should already be a good base of attendees, so show up and meet the real estate movers and shakers in Austin!

Look for me! I will let the hostess to know to send anyone looking for the "real estate meetup" to me. I plan to find a table outside for our group. 

As required by FIBI, a non-profit organization which this is a chapter of, there will be a COVID waiver for you to sign upon arrival. I will have copies for you when you arrive. Thanks for your participation in this.

@Melanie McDaniel

I’m here! We are at a table at the entrance.