All Forum Posts by: Account Closed

Investment Info:

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

Limited Partner - Cleveland Ohio Shaker heights - 67 units - large value add B Class - 5 year hold

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

Great area of Cleveland

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

A friends deal

Investment Info:

Large multi-family (5+ units) buy & hold investment in West Palm Beach.

Purchase price: $720,000
Cash invested: $175,000
Sale price: $1,250,000

8 unit apartment, Value Add. Sold

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

It was a great up and coming area, with a large value add for a decent equity gain

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

Networking.

How did you finance this deal?

Bridge loan

How did you add value to the deal?

Rehabbed some of the units, cleaned and painted the exterior.

What was the outcome?

Sold for a decent profit

Lessons learned? Challenges?

It is good to have options, never regret selling for a profit.

Does anyone have a contact for a building and installing aluminum railing in West Palm Beach.  The project will include 2nd story balcony and stairs railing installation.  Also a concrete wall will need to be removed from the 2nd story balcony.  

Alex,

    Great to know, we will contact you if need be when the time comes. That is great information about the 30 year fixed loan.  We are looking at about 6 months or so to refi.

Investment Info:

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

8 unit apartment, Value Add

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

Great up and coming area of West Palm beach

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

Found it through a current partner who invited me into the deal.

How did you finance this deal?

Hard money

How did you add value to the deal?

Currently rehabbing

What was the outcome?

Just closed, should be 6 month staged rehab

Lessons learned? Challenges?

Rehabbing the occupied building, finding available sub contractors.

Preferred rate is 7, supposed to be about 10-12 paid quarterly.

@Stewart Beal thank you will do.

@Tony Gorokhovsky, it was 90 percent occupied at closing. Probably high but the numbers still worked.

it was about 55 per door, I met him on the mastermind group I belong to. I scheduled a call with him, he was very thorough and I had already spoken to a few groups about their LP opportunities. It was on the market and was an assumable loan. Ohio seems to very hit right now.

Investment Info:

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

Limited Partnership - 187 Unit Multifamily apartments - Mansfield Ohio. Value add. 60 units rehabbed already, next 100 to be done over the next 3 years. Refinance or sale after 3 years capital returned plus 12 percent cash on cash return and equity share.

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

Limited Partnership. I like the returns and the people who are managing the asset.

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

I was looking into Limited Partnerships and really like the long term benefits of limited partnerships

How did you finance this deal?

I am a limited partner, I am only an investor and not a general partner.

How did you add value to the deal?

N/A

What was the outcome?

Currently in the value add and rent raising phase of the project

Lessons learned? Challenges?

Choose people whom you trust to invest with.