All Forum Posts by: Scott Kidd

Investment Info:

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

Limited Partnership - 187 Unit Multifamily apartments - Mansfield Ohio. Value add. 60 units rehabbed already, next 100 to be done over the next 3 years. Refinance or sale after 3 years capital returned plus 12 percent cash on cash return and equity share.

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

Limited Partnership. I like the returns and the people who are managing the asset.

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

I was looking into Limited Partnerships and really like the long term benefits of limited partnerships

How did you finance this deal?

I am a limited partner, I am only an investor and not a general partner.

How did you add value to the deal?

N/A

What was the outcome?

Currently in the value add and rent raising phase of the project

Lessons learned? Challenges?

Choose people whom you trust to invest with.

Investment Info:

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

Purchase price: $1,050,000

13 Unit multi family - Class C, value add, buy and hold.

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

It is a value add multifamily deal, with a great investment strategy and great partners.

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

It was found by a partner and I was invited to invest.

How did you finance this deal?

Private money

How did you add value to the deal?

We are planning to renovate 3 of the units, paint the exterior, landscape, clean up of exterior, tree removal, replace roofs, and possibly solar panels.

What was the outcome?

We plan to stabilize the asset over the next 2 years.

Lessons learned? Challenges?

Ask tenants more questions. Challenges, making the deal work by cutting costs and increasing rents will take more time than anticipated

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

yes

@Nikki Closser awesome story. Looks like you are on your way.

@Nikki Closser awesome story. Looks like you are on your way.

@Jake Garrity

Great work.

We are looking for a Real Estate / Probate attorney in the Newport / Jonesboro Arkansas area.  If anyone has any recommendations please contact me.  We have land that needs to go through probate and transferred.  Any help would be fantastic.

As parts of the country are going through different levels of shutdown.  Are real estate transactions, i.e. sales, considered essential services? Are some types of transaction excluded or are excluded.  I am looking for how people's experiences differ, in sales, being a landlord, property manager, contractor etc.

@Michael Lowe

Keep doing what you are doing and gravitate towards more positive influences. If they are your friends they will come around, if not no big deal. Everything is not fir everyone. Just stay positive and take positive action.

@Donald Thomas very good, thank you for sharing and sticking with it.

@Mike Jacovelli

Let them say what they want they will come around once they see your accomplishments or they may not. Just keep your goals on mind and keep going. Do not concern yourself with their negative reactions. In everything you do in life there will always be people whom have negative reactions. Use them to fuel your success. I know it is tough to keep getting these reactions, focus on surrounding yourself with people that inspire you and challenge you to move forward.