14 Unit Value Add Apartment

[Jason Kent]

Investment Info:

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

Purchase price: $1,100,000
Cash invested: $350,000

Value add deal - 14 unit building, renovating and turning every unit - Small little JV deal with a few friends. As of June 2022 - 2 units complete - 6 more in progress - 6 to go afterward.

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

Scaling with Multifamily

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

Local Agent - Off Market - Months of negotiation with seller

How did you finance this deal?

Corevest - will refi after renovation is complete

How did you add value to the deal?

Renovate every unit - clean outside - add fencing

What was the outcome?

In Progress

Lessons learned? Challenges?

First contractor has been challenging - switching to someone else.