All Forum Posts by: Daniel Frank

I'm one of the LP investors on the 2023 purchase.  It's actually a 80s build and the price/door is comparable to other deals that I saw pitched at that time.  The renovation plan was executed and occupancy is in the 94-96% range; rents at or above the pro forma.  Got agency credit with a fixed rate for seven years, will probably sell before that point.  

I'm one of the investors in the 2022 purchase.  The GP just finished remodeling all the units, 98%+ occupied; mostly students on full year leases.  Has a 4.5% fixed 10-year note.  GP is considering refinancing in a couple of years to buy out some of the LP investors; I want to stay in the deal because of the great cash flow.

So far so good, Rise48 seems to be a professional operator.  I'm glad they branched out from Phoenix.  I haven't seen any of their NC deals, but I'm in a capital building phase right now, so haven't really been looking at any deals for the past year.

 Chris,

For the large multi family investments, I want to see the deal pack first so I can screen for location, project class, projected cash on cash and IRR, and proposed value add method. If all that meets my investing goals, I will read the PPM. I then want to have a virtual meeting with the GP who will actually be overseeing the daily operations.

One of the projects is already stabilized and the GP is looking to sell; should have a significant amount of capital returned. I'm looking to purchase some SFH in the northern Virginia area to manage.

Investment Info:

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

Purchase price: $15,400,000
Cash invested: $125,000

128 unit apartment complex located in Dallas, TX.

Investment Info:

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

Purchase price: $39,050,000
Cash invested: $150,000

328 unit apartment complex in Dallas, TX.

Investment Info:

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

Purchase price: $10,188,000
Cash invested: $50,000

110 total apartment units in three complexes within Walterboro and Georgetown, SC.

Investment Info:

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

Purchase price: $9,850,000
Cash invested: $100,000

96 unit apartment complex located next to Baylor University in Waco, TX.

No, I'm an LP in the deal.  Total offering size was about $3m.

Investment Info:

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

Purchase price: $12,300,000
Cash invested: $30,000

168 unit apartment complex in Greenville, NC.