25 Properties = 59 Unit Package in need of extra love

[Pimwadee Limsirichai]

Investment Info:

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

Purchase price: $650,000
Cash invested: $45,000

25 property package for a total of 59 units, purchased with 60% occupancy.

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

There was a lot of opportunity for improvement and major long-term cash flow and equity.

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

Found this deal through our property manager

How did you finance this deal?

Owner financed

How did you add value to the deal?

Fixed up the properties, fulfilled tenant maintenance requests, and increased occupancy

What was the outcome?

Proposed cash flow achieved

Lessons learned? Challenges?

Building materials and skilled labor in a small town was in short supply. We brought crews with us to execute quality work, and worked with our vendors to ship materials, while maintaining our relationships.

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

We used our construction company (Winters Premier Construction) who mainly works in the Dallas-Ft. Worth area, as well as the local property management company. Our construction company works in both commercial and residential, handling maintenance, renovations, and even building from ground up.