First Deal Success! 9/18 - 7.5% Cap to 12%+ Cap In Six Months!

[Anthony M Scandariato]

Investment Info:

Other commercial investment investment in Chester.

Purchase price: $1,285,000

Acquired 10 Units (4 retail 6 apartments) in the most visible and foot-trafficked area of affluent downtown Chester, NJ from long-term private ownership and motivated seller

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

The location, the high in-place cap-rate, and potential upside.

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

Through a buyer's agent who has been looking for awhile. We negotiated by showing proof of funds and

How did you finance this deal?

Valley National - 25% down, 4.64%, 30 year am. Through relationships.

How did you add value to the deal?

- Restructured short retail leases to long-term upon acquisition
- Successfully raised apartment rent average from $875 to $1,425 with minimal capital improvements (

What was the outcome?

See above!

Lessons learned? Challenges?

Closing always takes longer then you think!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes - our real estate agent.