Value Add Apartment Deal

[Brandon Beatty]

Investment Info:

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

Purchase price: $4,100,000
Cash invested: $2,000,000

79 unit value add apartment complex with roughly 800k in cap ex completed

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

Instant equity and upside

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

Broker - off market

How did you finance this deal?

Bank recourse

How did you add value to the deal?

800K in renovations roughly 8K a door

What was the outcome?

Increasing NOI and value of property by 2M+

Lessons learned? Challenges?

Having the right manager in small towns is challenging