About this episode
Whitney Elkins-Hutten of PassiveInvesting.com interviews Lisa Moore, a former finance executive turned multifamily investor, about the acquisition of the 18-unit Bernice Apartments in Lansing, a suburb of Chicago. What started as a seemingly turnkey deal quickly revealed unpaid tenants, inaccurate rent rolls, and a complex master lease negotiation. Lisa breaks down how she re-traded the purchase price from $2.1M to $1.7M, structured a bridge loan at 12% interest, and navigated evictions, squatters, and a property management change. She shares how her background in finance and her husband’s construction expertise helped them pivot the business plan, underwrite a heavy value-add, and position the asset for refinance. This is a candid look at what really happens during due diligence—and how experienced operators protect returns when deals get messy.
