Jacksonville 12 Property Reh 825k Buy ARV verified 1.5mil Rehab 350k.

[Jason Crowe]

Investment Info:

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

Purchase price: $825,000
Cash invested: $350,000

Purchased a Large Property that is commercial zoned with 30 year money. Property has 12 dwellings on it. Fixing for 350k budget and Appraised for 1.5mil, worth more as commercial, and cashflowing after PITI 5k a month. Financing very difficult to attain 30 year money after Rehab on commercial PUD designation but I did it given resourcefulness in the Jacksonville Market and network. The owner i met on site said I was the most trusted of all that she had met on site so she was confident I would make the deal work. The seller and I are friends now and do business together even though a realtor was selling the property.

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

Value seen and identified.

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

Resourcefullness

How did you finance this deal?

Private Money Lender

How did you add value to the deal?

Appraiser myself, I rehab the property for my investors, I hire the work and solve the problems, and I rent the properties out for the BRRR strategy. Manage and maintain afterwards. Negotiate the deal.

Lessons learned? Challenges?

There is always a solution if your resourceful. Financing Commerical property with 30year money no one thought it was possible.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself and others it depends on the situation.