How I Bought This 27 Unit With No Money Out of Pocket
youtu.be
The speaker shares their experience of buying a 27 unit apartment complex for 2.7 million dollars without using their own money. They obtained the lead from a broker they had been working with for a couple of years and put down 20% or 140,000 dollars using a private lender. They got Fannie Mae money for the remaining 80% or 2.16 million dollars. Over the next three years, they plan to raise rents to market value and create efficiencies in management to increase the net income and add value to the building. They conservatively estimate that the building will be worth 3.5 million dollars in three years, allowing them to pay off everyone. They plan to get a new loan for 80% of the estimated value, which is 2.8 million dollars, pay off the old loan, pay the private lender 540,000 dollars plus 120,000 dollars of interest, and keep 140,000 dollars for themselves.
The speaker shares their experience of buying a 27 unit apartment complex for 2.7 million dollars wi