Today, we learn how recognizing how a rehab can be worth the effort; especially on a multi-family real estate deal worth $65 million.
Let's look at rents and opportunities. By the way, keep this in mind: Location, location, location!!!
Michael Flaherty is the Founder and Managing Partner of L5 Real Estate Investments. Throughout his career, Mike has been involved in the ownership, development and entitlements of more than 200 commercial and residential properties nationwide, valued at over $1 billion – including multi-family, resort, hospitality, office, retail and large master-planned residential communities.
He has worked internationally and domestically for Lend Lease, British Petroleum and Toll Brothers. His passion for multi-family investment performance is based on his niche for detailed due diligence, market analysis and acquisition of value-add opportunities. Mike actively participates in all acquisitions and management of L5 assets.
Prior to founding L5, Mike was a Partner with Cardinal Real Investments, where the focus was on the astute repositioning and development of residential and commercial real estate in Los Angeles and New York City. This included the repositioning of a $29 million office building and an $18 million mixed-use development.
Mike also takes us through the critical dates associated with being under contract with a seller, dealing with rights to earnest money deposits, and he explains how there is so much to follow along the due diligence path that that is necessary to take specific steps, and he provides strategies to navigate this process.
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