CEO @ Sprinkle Investing | Business Development, Team Building, Multi-Family Real Estate Syndicator, Storage Owner, Coaching & Mentorship, 27MM AUM 408 Units CEO @ ICS Quality Homes Remodeling
Another one for the portfolio! The last half of 2022 all the way through 2023 was a rough time to underwrite deals, it still is. Sellers need more money than makes sense on the buy side in most cases, and ever evolving interest rates makes it hard to project what may come in just the few short months it takes to close. I can't say enough incredible things about Richard and his team. They are truly top notch in the commercial real estate space. Richard was like no other when it came to communication, problem solving, looking through the lens of both buyer and seller to understand issues, and just true transparency. We look forward to a long friendship and more business together along with the seller. Both are sincerely incredible individuals whom we wish nothing but the best and we hope to continue to learn and work alongside them. If you'd like to learn more about how we knocked out this close or how you can still invest in this awesome, day 1 cashflowing asset, hit me up! LET'S GOOOOO! Time is the reward, Onward! Sprinkle Out! #realestate #multifamily #teamwork
🎉 Congratulations to our clients: Driftwood Apartments has successfully closed! 🎉 Persistence was the key to success for this transaction. A 1948 workforce housing asset on the Texas coast, Driftwood might have scared off a few buyer groups with rising interest rates and skyrocketing insurance costs. However, through our vetting process, we found the right buyer—a syndicator group with a solid history and the optics to see the opportunities to take the property to the next level. They were a repeat buyer with MMG and worked with our Structured Finance team to secure Fannie Mae financing…we knew they were the perfect fit. From day one, our team highlighted the need for constant communication and transparency. With no time wasted, we swiftly developed a contract and navigated through due diligence. Challenges were many, but tours were efficient, and there were no retrades! Shout out to both the Buyer(s) and Seller as everyone worked with purpose, intention, and good spirits throughout the transaction. Cheers to teamwork, candid communication, transparency, diligence, and accomplishing our client’s project goals despite challenges! 🥂 If you have a property in the Texas Coastal plains, let’s connect so we can share some more insight and some possible opportunities with you. MMG Real Estate Advisors, Richard Mireles, Brad Madison, Alex Howe, Tyler Salter, Hank Hicks, Esq., Brett Meinzer #justclosed #teamwork #clientsuccess #apartments #multifamily #corpuschristi #multifamilyinvesting #Texas #realestate
Joe G.
8mo
Congrats Jonathan!!
💪 15-50 unit JVs in the Heartland (IA to TX)
9moBig moves! Congrats!