First commercial flip

[Samuel Marten]

Investment Info:

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

Purchase price: $1,325,000
Cash invested: $325,000
Sale price: $1,750,000

42 unit class C apartment complex located in Daytona Beach FL. Bought in 2015 for 1,325,000 the owner financed 1,000,000 and we sold it cash in 2017 for 1,750,000.

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

The rental revenue and profit potential.

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

It was on the open market.

How did you finance this deal?

Owner financed.

How did you add value to the deal?

Increased rental rates remodeled some of the units.

What was the outcome?

Sold for a profit.

Lessons learned? Challenges?

Hire the best property management company you can.