All Forum Posts by: Justin Brennan

Sorry I meant Peter

Hi there Patrick all the deals would be 100 to 200 units. 

Hello does anyone know good multifamily renovation companies in the St Louis area? Thanks. 

Hello, what is the typical cost range for CPA tax returns on an LLC entity on a syndication with 10 investors? Multifamily deal. Standard 70/30 structure, nothing crazy or weird. Thanks

Hey Zach. Just saw this ;). Its closer to a B- property when we bought. We are putting $7,500-$8,500/door into the building w/d improve kitchen and bath. Exit value around $110,000-$120,000/door. Rents were below market when we bought around $895 for a 2bd and $695 for 1bd. We are now getting $1,095 for 2bd and $895 for 1bd. Building across from us is going on the market at $115,000 door shortly a year later after their remodel. They bought at $88,000/door. We are more long term hold. 

Investment Info:

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

Purchase price: $1,510,000
Cash invested: $520,000

30 unit class C- will turn into a B.

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

Cashflow and wealth creation, upside potential

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

Local broker

How did you finance this deal?

Convention bank financing local.

How did you add value to the deal?

remodel interiors all units.

What was the outcome?

TBD

Lessons learned? Challenges?

TBD

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

Local Broker

Investment Info:

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

Purchase price: $2,245,000
Cash invested: $800,000

27 unit apartment building. Class C+. Will improve to a B.

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

Cash flow and wealth creation

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

local broker

How did you finance this deal?

Freddie Mac

How did you add value to the deal?

Washer dryer in units, improve kitchens and baths and exterior

What was the outcome?

TBD

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

Yes. Local Broker and PM