All Forum Posts by: Duc Ong

💥Join us for an exciting Honolulu Multifamily and More Meetup!

Meetup on Saturday, December 10, 2022 from 3:00 PM HST- 6:00 PM HST

Sign up here: https://tinyurl.com/yc5bve4s

📋 Agenda:

🔵 Open networking

🔵 Small Group Networking (1)

🔵 Small Group Networking (2)

🔵 Open Networking

After registering, you will receive a confirmation email with your ticket information. We are looking forward to hosting you!

Additional Information:

Lokahi Menu: https://tinyurl.com/3nfww37b

Parking: 14 stalls in the back of the brewery, and a few more on Piikoi St. There is a parking garage next door at 1150 S. King. Validation is $4 for 3 hours.

 I sent you a PM with the link.

@Hector Mejia Come to our Honolulu Multifamily and more meetup on 11/27.

💥Join us for an exciting Honolulu Multifamily and More
Meetup on Sunday 11/27/22 from 5:00-8PM in Kaimuki!
📋 Agenda:
🔵 Open networking
🔵 Small group networking 1
🔵 Small group networking 2
🔵 Open Networking

Register for this meetup:
https://bit.ly/HMM112722

💥Join us for an exciting Honolulu Multifamily and More

Meetup on Sunday 8/21/22 from 5:30-8PM at Symphony Honolulu!

📋 Agenda:

🔵 Open networking

🔵 Small group networking 1

🔵 Small group networking 2

🔵 Open Networking

Register for this meeting:

https://bit.ly/HMM82122

After registering, you will receive a confirmation email containing information about joining the meeting.

💥Join us for an exciting Honolulu Multifamily and More

Meetup on Sunday 5/15/22 from 5:30-8PM at Symphony Honolulu!

📋 Agenda:

🔵 Open networking

🔵 Small group networking 1

🔵 Small group networking 2

🔵 Open Networking

Register for this meeting:

http://bit.ly/HMM51522

After registering, you will receive a confirmation email containing information about joining the meeting.

💥 You are invited to join us on April 24th, 2022 at 5PM for great networking opportunities and learn about multifamily real estate, wealth building, and more!

🤝 For this meetup, we are going to be networking in small groups, so bring your business cards and connect with other investors!

📍Register here to find out the exact location:

http://bit.ly/HMM42422

We are limiting this event to 25 participants.

🍻 Bring a drink or snacks to share.

@Michael Margarella greenbrier

Investment Info:

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

Purchase price: $1,656,000
Sale price: $2,450,000

Contributors:
Vince Gethings

This was a 48 unit deal in El Paso. We raised $650K in a syndication to close the deal. We brought up the occupancy from 75% to 100% by the sale.

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

Multifamily has historically performed well in terms of risk adjusted returns.

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

It was on market, and the seller was a mom-and-pop operator.

How did you finance this deal?

Community lender

How did you add value to the deal?

Completed work includes resealed/striped parking lot, replaced many of the water heaters and swamp coolers, added new community signage and monument sign, improved parking lot lighting, upgraded laundry machines, added grill area, and installed water saving devices.
$40k was spent on low maintenance landscaping.
We spent about $231K total in capital improvements.

What was the outcome?

A2 equity multiple was 1.74x, IRR was 31.9% and AAR was 40.6% over 1.8 years.

Lessons learned? Challenges?

This area is tougher than most. We were able to execute despite the challenges. One of the biggest lessons is to be better capitalize coming into the deal, so that we didn't need to use cash flow to cover capital expenses.

💥 You are invited to join us on February 6, 2022 at 3PM for delicious food, great networking and receive an abundance of information about the conference.

📍Bourbon Street

1055 Alakea St., Honolulu, HI 96813

RSVP here:

https://www.millionairesmindsetblueprint.com/meetandgreet