Updated almost 6 years ago on . Most recent reply
First multifamily acquisition
Investment Info:
Large multi-family (5+ units) commercial investment investment in Memphis.
Purchase price: $2,600,000
Cash invested: $320,000
80-unit property syndication
What made you interested in investing in this type of deal?
My partners had previous experience in the market.
How did you find this deal and how did you negotiate it?
Loopnet
How did you finance this deal?
Freddie SBL loan with Arbor
How did you add value to the deal?
We defined a renovation plan with the Property Manager
What was the outcome?
Property is cashflowing.
Lessons learned? Challenges?
We bought from a mom and pop owner, that led to difficult negotiations.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?