64 Unit Buy and Hold

[Caleb Bryant]

Investment Info:

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

Purchase price: $2,048,000
Cash invested: $325,000

This is a 64 unit apartment complex that we purchased in 2019. This was mostly a momentum play although we were able to get it well below market value.

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

Being familiar and having property in the Birmingham market made this attractive immediately. The last owner had put a lot of Capex dollars into it before selling to us. We were also able to purchase it around 60% of appraised value.

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

Was sent from a broker before being put on the open market.

How did you finance this deal?

Hard Money

How did you add value to the deal?

The main thing to do on this one was catch up on maintenance requests and hire our own staff. Relatively smooth sailing on this one.

What was the outcome?

So far so good, one of our best performing properties.

Lessons learned? Challenges?

None so far, hopefully we won't see any soon haha