460 unit Apartment 2021 - Houston

[Eddie Delaney]

Its been a while since my last post. Just wanted to share with those that are interested about my one of my last investments I participated in Southeast Houston as an investor and the General Contractor.  I invested 200K into the partnership and participated as the General Contractor. Delaneys Restoration Inc has been rehabbing multifamily for over 20 years and was able to bring that experience to the partnership. I have done my own smaller multifamily repositions but this particular asset I wanted to learn more on how the syndicated investments work. I'll dive into the numbers. 

Purchase-  Nov 2019 $28M  460 units

Rehab 2M

Sale $41M Dec 2021

My role was primarily to handle all the rehab. I saved the partnership from replacing all the roofs by doing over 60 quality roof repairs to problematic flat roofs. Installing all the siding/painting to mansards, patio and balcony repairs, restoring 12 units that were empty due to a fire and helping with make readies and turn overs.  

Any experienced multifamily/commercial investors purchasing a value add and need a reputable and experienced contractor/investor ( yes there are out there) to  help. LMK.   

Eddie Delaney