7 Unit apartment buy and hold BRRRR

[Bryce Stclair]

Investment Info:

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

7 unit Apartment Complex just outside of Athens Alabama, near Huntsville AL

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

The great cash flow

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

The deal was brought to me with the opportunity of being a private money lender on from an investment group out of Nashville. Instead we created a partnership and made the deal work together.

How did you finance this deal?

160k Cash PP with Investment LLC funding the Reno with Cash

How did you add value to the deal?

Adding new roof, all new split unit HVAC to replace window units and paint/clean up the grounds.

What was the outcome?

Still working on the renovations to do cash out refi

Lessons learned? Challenges?

First investment out of state for me. Being in Clarksville TN makes it manageable, only 2 hours away. Challenge will be building good contacts in the area.