First MultiFamily Investment Property Just Closed

[Marjeanne Fields]

Investment Info:

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

Cash invested: $1,615,000

Coronado Hills is a 68 unit, Class C Apartment building located in Big Spring, Texas. The property is currently 100% occupied and stabilized asset with several value add opportunities. The asset was originally built in 1968 and features 34 one-bedroom units, 28 large two-bedroom townhouses, and 6 large three-bedroom townhouses.

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

We were looking for long term passive income through real estate investing. Multi family seemed to be the best option to break in to commercial.

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

Found this through our broker. Took 2-3 months to negotiate terms.

How did you finance this deal?

Fannie mae and private investors