Rehabbing a multifamily property can require an enormous amount of time and capital. By working with Nectar, I was able to secure $75,000 to finish renovations on the last four units of my latest investment. If you’re an experienced multifamily investor looking for fast and flexible capital, Nectar has the solution you need! _{- Jered D., Multifamily Investor}

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About the Entrepreneur

Jered D. is the co-principal of a hospitality company based out of Jacksonville Beach, Florida. He also has his own real estate investment company which is focused on multi-family apartment buildings. Jered has experience with both rehab/value-add and buy and hold strategies, and he’s in the process of renovating an existing building with his in-house construction team. 

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The Challenge

Complete Renovations on 4 Vacant Units

When Jered originally purchased a new apartment building in 2020, he planned to renovate and increase rents from $1300 to $1800 a month. In actuality, he found that they were able to increase rents without renovating. 

As of the deal closing date, Jered had 8 leased units with 4 remaining to be renovated. Rents have continued to climb during the renovations, and Jered is exploring opportunities to transition the units into STRs if the vacation rental market continues to grow and the multifamily market slows. 

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Our Process

Flexible Term Limits and Rigorous Underwriting

Jered was interested in lower monthly payments over a longer period of time, so we set up the deal with a five-year term. ‍We found that though the Jacksonville multifamily market has started to cool down, it’s still maintained a 95% occupancy and shows signs of continued rent growth. ‍

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