All Forum Posts by: Steven Gesis

Investment Info:

Large multi-family (5+ units) buy & hold investment in New York City.

Purchase price: $4,500,000

144 Unit Property that was grossly mismanaged, we overhauled the entire space inside and out. New outdoor amenities, new common areas, and new modern apartments!

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $2,500,000
Cash invested: $1,000,000

16 Unit Multifamily Value Add - Vintage in distressed condition requiring a complete overhaul to modernization

Same process as Apartment Syndication but you must consider several factors:

1) Is this a pool of homes that you have identified?

2) Is it a blind pool ? 

3) How will you advertise your investment opportunity ?

----- once you get through the first three questions this should be able to dictate the next steps

Keep in-mind if you are doing a public syndication you will need to comply with all the rules and guidelines, they are the same for both SFR and MFR

Investment Info:

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

Purchase price: $7,000,000

153 Unit Vintage Multifamily that requires an extensive Value Add Modernization - We are excited to announce this wonderful property is in-progress

Are you ready to take action as the Commercial Debt Market is Crashing? Be sure to join us once again. We are hosting another webinar! You won't want to miss it. Join Smartland's COO Steven Gesis as he discusses how we here at Smartland are maneuvering through this landscape and share with you how you can take initiative in leveraging this current market condition.

In addition, he will discuss:

• How is Smartland maneuvering through this landscape
• What strategies are we deploying
• What we think the 2023 landscape feels like
• How to leverage the current market: curbing, inflation, interest and achieving returns

Bonus: We will share with you some of our current creative ideas in the works

Investment Info:

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

Purchase price: $7,000,000

Tower Multifamily Property requires an extensive amount of renovation work - throughout the common area and units. This project will be a complete modernization of the facility.

 Brian, per the legislation EIDL should be a solution and would be a grant - Likely if you do not have  payroll you would not qualify for PPP - Payroll can be rental income if that is sole income and not "e" income. 

Investment Info:

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

Purchase price: $155,000
Cash invested: $240,000
Sale price: $703,000

Contributors:
Matthew Fritz

16 Unit Garden Style Apartment Complex, Single Unit Type 2 Bedroom/ 1 Bath with Garden Style Entry and Egress. Fully Renovated Interior, New Roof, New Driveway Paving & Striping.

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

The property was condemned but had great potential

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

On-Market Deal

How did you finance this deal?

We used Cash no financing in this deal

How did you add value to the deal?

The building was in such poor condition and not habitable os by remodeling and bringing it up to today's standard

What was the outcome?

We had a fast lease-up since everything was new and a successful exit at stabilization

Lessons learned? Challenges?

Hi Demand for Garden Style - being close to highway access and modernized units helped capture max market rent

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

The internal team at Smartland: Acquisition, Renovation/Construction, Manahemnewgemt and Marketing

@Daniel A. Cool project keep working hard 💪

@Jason Marcordes yes it feels like a success but yet feels as though it can handle a few more upgrades and several more amentities. Yes, overall very proud of the results and most importantly the numbers speak for themselves :)