How we turned a $12.2M 200-unit deal into millions with $371K down #RealEstate #Multifamily

Before we close, I'm gonna show you what it looks like to actually make millions of dollars on one real estate transaction. Take a look at this settlement statement. I'm gonna put it right here up on the screen. $12.2 million purchase, $371,000 down. So project number 1, this place is 75% occupied today. And the reason that it's not occupied is because they haven't got through their make-readies. Pretty simple problem to solve, but we get started by getting started. So today we're gonna walk these make-ready units. We're gonna see how much work there is to do. This is a classic case of what happened all over Texas and frankly all over the country where people bought deals, the market shifted and they ran out of money to finish their project. There's just a lot of little blocking and tackling that you get knocked out on a project like this that makes a ton of the money. But some people just ran out of steam, they ran out of partnership, they ran out of cash, whatever it is that the problem was. This is a management play. And frankly, it's not that difficult of one. There is some management to do. But if you can run this project, I mean, there's millions of dollars on the line. I love deals that look exactly like this.