Nashville STR development

[Dave Anderson]

Investment Info:

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

Purchase price: $4,800,000
Sale price: $9,200,000

16 unit townhome complex. All are 4/4.5/2

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

Desire to get into commercial real estate

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

Partnered with the contractor

How did you finance this deal?

Lot was free and clear and used as the collateral for the construction loan

How did you add value to the deal?

Money added

What was the outcome?

Flipped 15 of 16 and kept one as a STR.

Lessons learned? Challenges?

Too many to list

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

Yes! Grant Hammond was our listing agent and was beyond phenomenal.