All Forum Posts by: Adam Ulery

Safety Harbor is going to be extremely difficult to cashflow. High taxes and surprisingly low rent rates compared to the price of real estate. You'll have much better luck in a working class neighborhood, such as New Port Richey.

We have been buying apartment buildings near USF. Even those are starting to price themselves out of being profitable. 

To learn more about BTR, check out this short post: https://www.biggerpockets.com/...

Investment Info:

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

Purchase price: $3,800,000
Cash invested: $1,285,000

In December of 2020, Dreamstone Investments and partners, closed a 19 unit townhouse-style rental community in Nashville, TN. We see this community serving young families in metro Nashville, who want more privacy and more of a “house-feeling” than an apartment. It's perfect for those who aren’t ready to own a place, but want a place that they would be happy to own. This is new construction and we will hold this property for at least 5-7 years, at which time we will either sell or cash out.

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

Taking advantage of economies of scale, cheap agency debt, and competitive building costs to buy a new product that will have low-to-no maintenance costs for several years thanks to builder warranties and new construction.
Rental demand is strong, with millennials reaching prime housing age, while strapped with student loan debt.
Mulitple exit strategies make exiting the deal in 5-7 years flexible.

How did you finance this deal?

Syndication and agency debt.

Investment Info:

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

Purchase price: $3,800,000
Cash invested: $1,285,000

Dreamstone Investments, with offices in Tampa and Atlanta, and apartment communities in Florida, Georgia and Nashville, has recently added a new investment type to its strategic portfolio. Build-to-Rent (BTR) is a new trend that renters and investors, alike, find attractive. In December of 2020, Dreamstone Investments and our partners, closed on a 19 unit townhouse-style rental community in Wilson County, a suburb of Nashville, TN. We see this community serving young families in metro Nashville, who want more privacy and more of a “house-feeling” than an apartment. It is perfect for those who aren’t ready to own a place, but want a place that they would be happy to own. This is brand new construction and we will hold this property for at least 5-7 years, at which time we will either sell or cash out.

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

Taking advantage of economies of scale, cheap agency debt, and competitive building costs to buy a new product that will have low-to-no maintenance costs for several years thanks to builder warranties and new construction.
Rental demand is strong, with millennials reaching prime housing age, while strapped with student loan debt.
Mulitple exit strategies make exiting the deal in 5-7 years flexible.

How did you finance this deal?

Syndication and agency debt.

Brian, I might have something that interests you. Message me so we can trade contact info, if you're interested in a quick chat.

Thanks to all who have replied with positive comments and support! I'm most active on LinkedIn so that's a good place to connect. My handle is my name Adam Ulery. Also my podcast, tgwipodcast.com is a good way to stay connected. 

Investment Info:

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

Purchase price: $5,900,000
Cash invested: $2,800,000

100 unit class-B value-add in Atlanta.

Investment Info:

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

Purchase price: $6,200,000
Cash invested: $2,300,000

Uptown Villas in Tampa is comprised of 90 units of C-class studio, one and two bedroom apartment homes. The properties are located in Tampa’s up-and-coming Uptown district, at the Northwestern end of North Tampa. Our plan is to improve the property through updates to modernize the units and make the community more aesthetically pleasing. The plan also includes more efficient management of the property and tightening control of expenses through Dreamstone’s established systems and processes.

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

The day after our closing on Uptown Villas we received the news that the 100-acre University Mall property, is undergoing an urban redevelopment project that will be called Rithm At Uptown. Once complete, Rithm At Uptown will be one of the largest, mixed-use innovation communities in the state. It is part of a plan by Tampa Innovation Partnership to transform the area into a major employment center and a hub for research and innovation.

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

Broker brought it to us

How did you finance this deal?

Syndication and commercial bank debt

How did you add value to the deal?

Investor relations, communications, marketing, administrative support, team collaboration, systems optimization, technical support

What was the outcome?

Closed 90 units!

Lessons learned? Challenges?

One seller was a total angry old man. COVID presented some unique challenges, partnered with another operator to increase our capital raising power

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

Avery at Franklin Street

Investment Info:

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

Purchase price: $6,200,000
Cash invested: $2,300,000

Uptown Villas is comprised of 90 units of C-class studio, one and two bedroom apartment homes. The properties are located in Tampa’s up-and-coming Uptown district, at the Northwestern end of North Tampa. Our plan is to improve the property through updates to modernize the units and make the community more aesthetically pleasing. The plan also includes more efficient management of the property and tightening control of expenses through Dreamstone’s established systems and processes.
Tampa is a strong market and consistently ranked one of the top places in the US to invest in multifamily. The Uptown area is rapidly growing and receiving an influx of investment dollars to grow businesses and redevelop the area. The day after our closing on Uptown Villas we received the news that the 100-acre University Mall property, is undergoing an urban redevelopment project that will be called Rithm At Uptown. Once complete, Rithm At Uptown will be one of the largest, mixed-use innovation communities in the state with capacity for more than seven million square feet of development, including several thousand residential units. Rithm At Uptown is part of an ambitious plan by the Tampa Innovation Partnership to transform the area around the University of South Florida's main campus into a major employment center and a hub for research and innovation. Additionally, nearby Moffit Cancer Center recently announced a $400M expansion, 2 major hospitals in the area are undergoing major expansions, and Amazon recently purchased 82 acres approximately 5 miles away and plans to build a state of the art distribution center on the land. Needless to say, we believe we chose our location well and are super excited to improve Uptown Villas to contribute to the health of this growing area. https://www.dreamstoneinvest.com/

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

Growing massive wealth

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

Broker brought it to us

How did you finance this deal?

Syndication and commercial bank debt

How did you add value to the deal?

Investor relations, communications, marketing, administrative support, team collaboration, systems optimization, technical support

What was the outcome?

Closed 90 units!

Lessons learned? Challenges?

One seller was a total angry old man. COVID presented some unique challenges, partnered with another operator to increase our capital raising power

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

Avery at Franklin Street

@Darius Ogloza I recommend you reach out to @Jeff Copeland.