First syndication - Spartanburg, SC

[Brian Briscoe]

Investment Info:

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

Purchase price: $2,900,000
Cash invested: $100,000

39 unit, B-Class asset in downtown Spartanburg which is dominated by A-Class multifamily units. Will add value by renvoting interiors and increasing curb appeal.

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

Great location - downtown Spartanburg is experiencing a ton of growth and expected to keep growing in the future.

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

Off-market listing from broker.

How did you finance this deal?

Fannie Mae small balance loan

How did you add value to the deal?

Renovating interiors, sprucing up exteriors. Renovation budget is $700k.