My first commercial Deal (luxury 8-plex)

[Prescott Williams]

Investment Info:

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

Purchase price: $410,000
Cash invested: $80,000

Luxury 10,000 square foot apartment complex by the water and near Downtown Moss Point, Ms.

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

I wanted to scale up and start tackling some commercial deals.

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

I found this deal on a bank foreclosure listing and I bargained with the bank for about a week to get the price down.

How did you finance this deal?

20% downpayment with a 15 year arm/5 year balloon

How did you add value to the deal?

Renovated all 8 units and did some major landscaping and design changes