Updated about 7 years ago on . Most recent reply
52 Unit Apartment Community
Investment Info:
Large multi-family (5+ units) buy & hold investment in Abilene.
52 Unit Apartment Community in South Abilene
What made you interested in investing in this type of deal?
My background is multi family management and brokerage. I love investing in deals and relish the challenge of making them work.
How did you find this deal and how did you negotiate it?
It was listed by a colleague. He had not been successful at selling yet because it was not profitable at that time. We agreed to pay a little more based on future value due to large units and location.
How did you finance this deal?
Local lender. I am a minority partner in this deal.
How did you add value to the deal?
Implemented stronger management and leasing policies. Rent increases and better marketing made it all work.
What was the outcome?
Doing well now after some hard work & time.
Lessons learned? Challenges?
Its all a challenge but so rewarding when it works out!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Ben Russell Coleman Bank Abilene Banking Center is amazing.
Most Popular Reply
- Cost Segregation Expert and Investor
- Lakewood, NJ
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@Judy C. Congrats on your successful deal! I love the way that you laid out the Q & A to give us a background of your experience on this deal.
I really like the strategy you took by finding this property that was not profitable at the time, and had a plan to add value.
Best of luck on many more.