ASSIGNMENT:

A new investor was introduced to us by the selling agent with whom we have closed deals with in the past. This was the investors first apartment building, and it is always a joy nice assisting someone as they enter into the Multifamily real estate market. It is vastly different from the residential world, and we enjoy educating new investors on the nuances of investing in Apartment Buildings.

CHALLENGE:

It was challenging obtaining info on the property from the seller and his agent. This seller was a big landlord who owned multiple properties in this market area but his paperwork was not organized. Additionally, at the time of the appraisal we learned of many repairs needed at the building.

SOLUTION:

We were able to work with the seller on obtaining his paperwork, and we also worked with agents regarding the repairs that had to be completed. The new investor was very on top of things and we see him having a successful career in the multifamily Industry.