Know thy Market

[Nitzan Mosery]

Investment Info:

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

Purchase price: $9,800,000
Sale price: $16,500,000

built in 2001 this is a great asset. well maintained and nestled in a nice green corner in the path of progress in the inner city loop.
great value add. renovating interiors and raising rents over 125$

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

The location, the market, and the calss of asset.

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

Broker relations

How did you finance this deal?

institutional financing
fannie green program

How did you add value to the deal?

having an incredible onsite manager, adding colorful flowers to perk up the curb appeal, paint the windo shutters to make them pop and renovate the interiors.

What was the outcome?

raised rents and had very strong occunpacy between 98 to 100%.
very low delinquency and low turn over

Lessons learned? Challenges?

your onsite manager is a huge component of your success. working with them so they understand the goal of the property is crucial for success. buying in the right area will boost your profits.

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

yes privately