All Forum Posts by: Ceasar Rosas

Investment Info:

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

Purchase price: $605,000
Cash invested: $185,000

Beautiful brick building located seconds away from Bristol's charming downtown & across the street from Bristol Public Library. 8 studio/1 bedrooms and 2 commercial units. Property has been 90% stabilized.

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

I love construction. We have done several flips the last few years and it excites me to bring properties to life. This place was 40% occupied and needed a fair amount of work. We saw the potential of raising unit rents by average of $150 per month through renovations and raising the value of the building.

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

On Loopnet. We were working with a Realtor in the area already and had offered on the property before. When they finally lowered the price to $655k we were able to get them down to $605k. I coached the realtor on negotiating to get the deal done, as she was new and worked hard for us.

How did you finance this deal?

25% down through a commercial broker.

How did you add value to the deal?

We renovated 6 out of the 8 residential units raising the rent from an average of $675 to an average of $850 per unit. We will start working on common areas and such.

What was the outcome?

We will be doing a cash out refinance on this property soon. We are looking to repeat the process with more partners and a larger unit count.

Lessons learned? Challenges?

Contractors need to be vetted. We lost about $4k through a shady contractor. We'd also work with a different attorney.

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

Yes, definitely our Realtor.

@Lucia Rushton Our own purchases. I have money partners. I usually put everything together from A-Z. Message me if you can. I tried to add you as a connection and it didn't seem to go through.

Hey Everyone,

Who is investing in the Dallas, TX market? I'm hoping to make a few connections and possibly jump into a couple of deals out there.

Hey Everyone,

I am looking for anyone who has an interest in Construction and Real Estate in the NYC, New York, Westchester, Long Island areas. I'd like to trade ideas for something I have brewing.

Welcome everyone to the Bronx Real Estate Network. We are bringing back our Bronx, NYC, Westchester real estate meetup and masterminds! Our first meetup back will be with Jessica Coen from US Mortgage Corp. We are going to do a zoom call and go from about 7pm to 8:30pm. The goal is to bring it back live by the end of the year.

*This month the call will be going over the BRRRR method which stands for Buy, Renovate, Rent, Refinance, and Repeat! This method is very popular for newer investors as well as seasoned. We'll also talk briefly about the steps we are currently taking to BRRRR our 10 unit in Connecticut. We'll follow that by open discussion and getting to know each other again. I look forward to talking to everyone new, or from our past events. Let's make it happen!

Additional details to follow. RSVP by emailing [email protected] with your name, number, and email.

Welcome everyone to the Bronx Real Estate Network. We are bringing back our Bronx, NYC, Westchester real estate meetup and masterminds! Our first meetup back will be with Jessica Coen from US Mortgage Corp. We are going to do a zoom call and go from about 7pm to 8:30pm. The goal is to bring it back live by the end of the year.

*This month the call will be going over the BRRRR method which stands for Buy, Renovate, Rent, Refinance, and Repeat! This method is very popular for newer investors as well as seasoned. We'll also talk briefly about the steps we are currently taking to BRRRR our 10 unit in Connecticut. We'll follow that by open discussion and getting to know each other again. I look forward to talking to everyone new, or from our past events. Let's make it happen!

Additional details to follow. RSVP by emailing [email protected] with your name, number, and email.

@Shrey Desai

Welcome to BP Shrey! I did a couple of things out in Myrtle Beach, SC. Now I'm staying closer to home on flips and have some buy and holds in CT. About an hour and a half away. Feel free to reach out with any questions.

@George Azita

Thanks for the input. That is great stuff!!

@Andrew Jennings Freerks

Not yet. Have you found qualified leads for investments or more brokerage side? What kind of signs do you put up?

@Michael J. Nice, what kind of software are you using for that?