BP Networking = 42 Unit Value Add Purchase

[Jay Helms]

A BIG shout out to BP! If it weren't for BP, last week's closing on my first apartment complex - a 42 unit - would not have happened. I've been a member for a few years now and slowly growing a portfolio of SFRs and small MFRs. In Febrauary of this year @Kyle McGee (who I met on BP) had the insight to introduce me to @Tim Kelly (who also met Kyle on BP). At the time, Tim and I were both looking for seller financing deals and Kyle thought we should meet.  Six months of hustling to find a value add deal, partnership creation w/ @Jeremy Hans & @Robert Preston [members of the Pensacola PIG put on by @Matt Robinson ], we closed on this 42 unit apartment building.

Thank you, thank you, thank you and my kids also thank you! 

[Jay Helms]

Hello @Justin Young. First time ever, before ever physically meeting, intros were done virtually via BP, which led to a few round of drinks and mexican food. 

@Kyle McGee - YES! I want to buy you golf lessons! :)

@Erica Osborn - made it happen through partnerships/networking. This property is in Citronelle, north Mobile County, AL. Purchase Price of $700k ($16,667/per unit). This is a value-add property with retired / distant / self-managing ownership with a 55% occupancy rate. We raised $330k to close which included reno and 6 months of operating expenses.