Closed my first real apartment deal!

[Brandon Beatty]

Investment Info:

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

Purchase price: $1,370,000
Cash invested: $295,000

The is an off market opportunity that did need some rehabbing. We got a bridge loan to do 165K worth of rehab to the property. Upon closing the property appraised AS-IS for $2,030,000

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

I own several smaller 2-10 unit buildings. I wanted to purchase a larger property for economies of scale.

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

Broker Relationship

How did you finance this deal?

Local Bank

How did you add value to the deal?

165K of rehab and professional management

What was the outcome?

Forced equity and cash flow