All Forum Posts by: Kara Leboeuf

Hi Evan we would be happy to have you. No  sign up requirement. 
hope to see you Thursday. 

Friendly reminder for this months meet up at common roots brewing in south glens falls NY! Event will be held in their private event room. We will be discussing strategies to find your next deal. Can’t wait to see everyone there!

Hi Gregory, 

February’s event is posted too. 
we meet the first Thursday of every month from 7-9 at common root brewery in south glens falls. 
2/3/2022 at 7pm. In their private event room, see you there!

Please join us for our next meet up where we will discuss different ways to find your next deal in todays competitive market!
 We can’t wait to see everyone there. Event will be held in Common Roots Brewing Private Event Room. 

Hi Everyone! Friendly reminder that our meet up is tonight! Can't wait to meet everyone. 

Investment Info:

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

Purchase price: $662,500
Cash invested: $86,000

8 unit that was in decent shape with under market rents. We had the seller hold 150,000 note with a balloon payment at 5 years then did conventional financing through the bank. We immediately raised rents that were on average 700 per unit up to 900-950/unit with out any money in renovations. Market rents after rehab will be about 1200 significantly increasing our monthly cashflow. Then we will be able to refinance around 4 years and pay back the seller and get our original investment back.

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

A newer commercial unit with significantly undermarket rents.

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

We actually found it on the MLS. We originally asked for seller financing and he said no. So we presented him with 3 offers, one with traditional financing and less money to him, and the other 2 were different terms for seller financing where he ended up with more money. He ultimately chose the offer where he made the most money!

How did you finance this deal?

150,000 seller financing and 432,000 financed through the bank

How did you add value to the deal?

Immediately raised rents upon closing. Will slowly rehab units as tenants move out, and raise to market rents which is about 400/more per unit more than what we originally purchased for.

What was the outcome?

success so far!

Lessons learned? Challenges?

There always seems to be a way to convince the seller to do financing. He was first a hard no, but after talking and negotiating with him more we got him on board.

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

We actually did work with a very investor friendly agent who. happened to be the listing agent.

Investment Info:

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

Purchase price: $662,500
Cash invested: $86,000

We purchased an 8 unit that was in decent shape with under market rents. We had the seller hold 150,000 private note with a balloon payment at 5 years then did conventional financing through the bank. We immediately raised rents that were on average 700 per unit up to 900-950/unit with out any money in renovations. Market rents after rehab will be about 1200 significantly increasing our monthly cashflow. Then we will be able to refinance around 4 years and pay back the seller and get our original investment back.

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

A newer commercial unit with significantly undermarket rents.

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

We actually found it on the MLS. We originally asked for seller financing and he said no. So we presented him with 3 offers, one with traditional financing and less money to him, and the other 2 were different terms for seller financing where he ended up with more money. He ultimately chose the offer where he made the most money!

How did you finance this deal?

150,000 seller financing and 432,000 financed through the bank

How did you add value to the deal?

Immediately raised rents upon closing. Will slowly rehab units as tenants move out, and raise to market rents which is about 400/more per unit more than what we originally purchased for.

What was the outcome?

success so far!

Lessons learned? Challenges?

There always seems to be a way to convince the seller to do financing. He was first a hard no, but after talking and negotiating with him more we got him on board.

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

We actually did work with a very investor friendly agent who. happened to be the listing agent.

Please Join us the first Thursday of every month to discuss all things real estate. Our area is in need of consistent real estate investor meet ups where we can network and grow our portfolios together. At this meet up we will be doing introductions and networking. Each month there after we plan to have a guest speaker focusing on specific topics. We look forward to seeing you there!

ADK REI is a local real estate investor group that meets the first thursday of every month. We focus on all aspects of real estate investing in the areas surrounding Queensbury, South Glens Falls, and Saratoga Springs NY. Our meetings are casual and free for anyone to join

Thats awesome, where in upstate NY did you do this?

Please Join us the first Thursday of every month to discuss all things real estate. Our area is in need of consistent real estate investor meet ups where we can network and grow our portfolios together. At this meet up we will be doing introductions and networking. Each month there after we plan to have a guest speaker focusing on specific topics. We look forward to seeing you there!

ADK REI is a local real estate investor group that meets the first thursday of every month. We focus on all aspects of real estate investing in the areas surrounding Queensbury, NY. Our meetings are casual and free for anyone to join