13 Units Class C Multifamily, buy and hold

[Scott Kidd]

Investment Info:

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

Purchase price: $1,050,000

13 Unit multi family - Class C, value add, buy and hold.

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

It is a value add multifamily deal, with a great investment strategy and great partners.

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

It was found by a partner and I was invited to invest.

How did you finance this deal?

Private money

How did you add value to the deal?

We are planning to renovate 3 of the units, paint the exterior, landscape, clean up of exterior, tree removal, replace roofs, and possibly solar panels.

What was the outcome?

We plan to stabilize the asset over the next 2 years.

Lessons learned? Challenges?

Ask tenants more questions. Challenges, making the deal work by cutting costs and increasing rents will take more time than anticipated

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

yes