100 Unit Multifamily Buy and Hold

[Bill Ham]

Investment Info:

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

Purchase price: $2,550,000
Cash invested: $510,000

Creekside Vista Apartments
100 unit C class apartment complex.
Long term buy and hold. My partners and I still own this and my management company Echo Residential manages it.

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

I am a full time owner operator of multifamily properties. This is one of many deals I have placed into my portfolio. This purchase was about increasing revenue and cash flow by improving the management and operations.

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

This property is in Macon, GA. I am from Macon originally. This was by backyard at that time. This was brought to me through a relationship with a local broker. My team has and is still managing this.

How did you finance this deal?

Freddie Mac small balance loan.

How did you add value to the deal?

Valuation through operation not renovation.

What was the outcome?

Cash flow!

Lessons learned? Challenges?

Management income is not free income. Setting up your own management company can be great but it can also come a lot of opportunity cost.