My first deal as a Real Estate Syndicator

[Dolf Al Emara]

Investment Info:

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

Purchase price: $3,150,000

We bought this 16-unit building. In desperate need of rehab. lots of upsides.

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

Lots of potential

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

On-market
I negotiated a seller financing with the seller, and he agreed to my terms. This deal would not have been possible without this.
They failed to disclose material facts. I used it to our advantage rather than listening to my investors and filing a lawsuit. I got us $275k worth of cash credits. I am a 20% owner of this deal.

How did you finance this deal?

Seller financing at way lower interest than traditional lender rate.

How did you add value to the deal?

Rehab and cash for keys.

What was the outcome?

It will appraise for at least 2.5X of the original purchase price in a 3-year time period.

Lessons learned? Challenges?

Dealing with tenants in a City of LA rent-controlled building.

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

Me :)