16 Unit in the Tennessee

[Oliver Perry]

Investment Info:

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

Purchase price: $1,500,000
Cash invested: $30,000

15 Unit Multifamily property, I worked with my team of 5 other investors. Expecting a 7-year hold.

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

I learned from flipping a house that it would take me much longer to reach my investing goals if I could only flip homes. A home takes an average of 6 months to flip, depending on the work involved. Additionally, to create the long-term funding that I would like I would need to be able to rent a location as opposed to flip it. From what I can tell the long turnaround money (rentals) is a much better fit for me than the short turnaround.

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

One of my partners found this deal and negotiated

How did you finance this deal?

We raised funds as a team to execute this deal.

How did you add value to the deal?

I provided 30K in funds as well as worked directly with investor relations

What was the outcome?

The property is currently in our ownership and is doing better than expected despite the issues during the pandemic and the current market.

Lessons learned? Challenges?

I am not a numbers person. I need to use my talents in conversation and learn to focus on the skill that I have.
I spent way too much time worrying about the exact numbers, instead of focusing on working with investors and trusting the team.