All Forum Posts by: Ambica Pilli

Hello,

Looking for recommendations on PMCs who can manage multifamily residential apartments > 70 units in Charlotte area and suburbs. Pour in your suggestions on how to find such companies apart from Googling.

Phil - sent you a message

Investment Info:

Retail buy & hold investment.

Purchase price: $16,500
Cash invested: $16,500

Invested in a shopping mall - consisting of shopping, movies, game centers and food court located in the heart of the city.

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

Entering into commercial property acquisition - builders were looking for seed funding to kick off the project

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

Real estate agent who we worked with prior brought this deal.

How did you finance this deal?

All cash in installments

Lessons learned? Challenges?

Commercial project development takes a long time, if there is additional cash that is not urgently needed its a safe bet. Investment returns on such high profile commercial constructions will take a long time, have to be patient and keep abreast of the latest developments

Investment Info:

Other buy & hold investment in Aubrey.

Purchase price: $55,000
Cash invested: $55,000

4 acres of land parcel in a village closer to the city. Currently, hired local farmers to cultivate seasonal fruits, avocados and vegetables.

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

Land in a growing metropolitan can get very expensive over the period of time. We wanted to get in early to get a good deal.

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

Online Research and cold calling

How did you finance this deal?

All Cash

How did you add value to the deal?

Added new Fencing, new water sprinkler system, new borewells, new avocado and mango saplings, fresh organic fertilizer

What was the outcome?

Had a great sugarcane yield this year, will be harvesting avocados and mangos in the next 4-5 year timeframe.

Lessons learned? Challenges?

Have a close watch on weeds, and keep local farmers motivated to maintain land fertility and accelerate plant growth rate

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $293,000
Cash invested: $293,000

A location that has potential to develop into a residential super power with excellent road connectivity to the rest of the city. When we invested this was a suburb to an IT hub that employed close to 20,000 people. The area was in its infancy however we saw tremendous opportunity to invest in a gated community. Currently, market value is close to 875k.

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

Envisioned our Future home for our family.

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

Online search and research the area via Google Maps. Find a local agent in the area, it was an out of state investment.

How did you finance this deal?

20% down and rest at milestone construction phases that lasted for three years!

How did you add value to the deal?

Great interiors that attracted awesome tenants

What was the outcome?

Currently renting at $15k per yr.

Lessons learned? Challenges?

Scout for multiple contractors and negotiate hard on pricing not compromising on quality.

Investment Info:

Other buy & hold investment.

Purchase price: $6,000
Cash invested: $6,000

Invested in a Land in suburbs of a development hub providing jobs to 10k employees. As a future visionary, we invested in this piece and now valued at over 83k.

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

We were looking for opportunities to port our money in land closer to future job development. This area had tremendous opportunity as big companies bought land to start operations in this area.

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

Found through an online resource, negotiations on the phone. It was a steal of a deal!

How did you finance this deal?

All cash!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $295,000
Cash invested: $60,000

After living in five different states in US. We decided to settle down in a location that is family friendly and still had a very peaceful and suburban charm to it. Our primary home where our children were born - every investment has a story and a connection to larger part of life!

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

Price and the timing was primordial to this investment, having to settle down and call a place home

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

Online search engines and an amazing real estate agent, who is still a good friend; she understood our needs and actively worked with us to find a family friendly neighborhood closer to work.

How did you finance this deal?

20% down and rest conventional financing at close to 2% interest rate

How did you add value to the deal?

Regular maintenance, upkeep of lawn, exterior of the building as per HoA covenants.

What was the outcome?

Property values soared high in this town since past 7 years. Currently, valued at more than double the original price, its a keeper!

Lessons learned? Challenges?

Location is key to any real estate investment. We saw this area is a suburb to a major city has good connectivity to a major company hub, low crime and a serene place.

Investment Info:

Condo buy & hold investment.

Purchase price: $31,000
Cash invested: $31,000

Very first investment - paid all cash for this investment. Was such a proud owner of this condo that we still receive rental income till date. Its was initially a very suburban location which over the years has become prime to many shops, restaurants, schools and IT companies. Currently Market value of this condo is close to $100k.

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

I come from a family of landlords and real estate has always been valued as a primary path to wealth and financial freedom. It was a no-brainer to get into our first investment with all the savings we had from our IT jobs.

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

My family worked with an agent to look for properties in the selected area that my father had known is going to become a prime location in the next 5 years. My spouse negotiated with the builder on the phone and it was easy to ask for a lower price since the area was still suburban at that time.

How did you finance this deal?

All cash savings from our day IT Jobs

How did you add value to the deal?

Rehabbed kitchen and bathrooms to attract stable tenants

What was the outcome?

Still renting at market rate

Lessons learned? Challenges?

Working with contractors for the first time - don't pay the contractors until the work is done, very big lesson for life!

Looking forward to any networking events in and around the Triangle region (Raleigh, Durham, Cary or nearby) in NC. Share if any on the horizon!

Am looking for either hard money loan or a mezzanine financing for a commercial multifamily deal that I'm actively working on. Anyone interested in funding, DM pls.