154-Unit Lynden Parke In Ann Arbor, MI With David Kamara, Apartment Syndicator
Whitney Elkins-Hutten, the director of Investor Education, interviews David Kamara, the Founder and Investor of Cape Sierra Capital, to share his insights on acquiring the 154-unit Lynden Parke Apartments. Since the property is centrally located, it provides convenient access to essential needs for the residents. The property is designed uniquely with energy-efficient appliances and an open floor plan perfect for entertaining. Considering the current market, where the interest rate increases by 2%, David dives into the financial piece of acquiring this property by taking on a loan with a floating interest rate. Although risky, it provides you the option of an early exit of the loan. Taking over the property was smooth, and he ensured that he and his tenants understood each other. Let’s take a moment and tune in to this episode to gather more insights on how David navigates through the deal, especially with the increasing interest rates.