Extreme RE Investor

Real Estate General Partner & Extreme Sports Enthusiast | Follow me to learn how to invest in Multifamily and RV Parks | 700+ Units/Pads & Over $60MM AUM |

[Extreme RE Investor @PrahlMike]

Quick Intro: I am a full-time RE GP/investor in multifamily and RV Parks, with a healthy addiction to extreme sports. If I'm not modeling or chasing my next RE deal, you'll find me in the water, mountains, or on the trail! 🏄🚵‍♀️🏂Lets connect!

My full story in the🧵below:

[Extreme RE Investor @PrahlMike]

@JumpInRE $5k per door. But this was really more of a Mgmt play. Very little DM, just a lot of vacant apartments.

Several units needed renovation but the budget mostly went towards HVAC systems.

[Extreme RE Investor @PrahlMike]

Distressed Deal Story!

My most fulfilling deal I've worked on so far as a GP was turning around a distressed 83 unit asset.

The property at one point was a prime Class A asset, known as a trendy swingers building back in the 70's.😂

ABQ, NM, 83 units, Class C!

[Extreme RE Investor @PrahlMike]

@RENTSDU1st 20% on $35k? I’d say 🏃‍♂️

[Extreme RE Investor @PrahlMike]

@zachmolzer Awesome story. Love how you guys were able to work through that.

[Extreme RE Investor @PrahlMike]

@Dylan_Legra_CRE Thanks! Always rewarding seeing how the numbers improve over time.

[Extreme RE Investor @PrahlMike]

@sonoran4498 Hah! I liked Albuquerque but valuations have now gotten too rich to buy more.

Good deals are every where, though.

[Extreme RE Investor @PrahlMike]

@TheWolfofREI Yes sir! Always good to see the hard work proven out in the number!

[Extreme RE Investor @PrahlMike]

@LA_CRE_Attorney Haha workforce housing is still fun right?! 😂

[Extreme RE Investor @PrahlMike]

@LA_Multi_Fam Thanks! We went off market through a broker who had worked with the seller previously.

[Extreme RE Investor @PrahlMike]

@zachmolzer Thanks Zach! Looking forward to chatting soon!

[Extreme RE Investor @PrahlMike]

@JTMartingCRE Its super interesting to look into, but I haven't pulled the trigger.

The rule of law is different in each country though, so knowing local laws and codes is critical.

Easy to miscalculate things as a foreigner without the right team helping navigate you.

[Extreme RE Investor @PrahlMike]

I can't wait to see where this property is in another 12 months!

If you enjoyed this deal story and are looking to learn more about multifamily and RV parks, please like, comment, and retweet!

Follow me for more stories like this and tips for real estate investing!

[Extreme RE Investor @PrahlMike]

There is still lots of upside left for this building with further renovations, continuing to bump rents to market, and managing expenses.

However, the growth in the RR and T12 already as compared to at purchase has truly been remarkable.

[Extreme RE Investor @PrahlMike]

@PaxtonHoogland @fortworthchris @DonovanBuilds @twallyweb @Karl_Luminus @danabrahams87 @graysongladu I’ll likely get up to Ft worth around 4, so if this happens I’ll definitely join!