Name: Tours & Pours STL - The Apartments (Case Study) Featuring Donald Shaver!
Start: 2025-05-08T18:00:00-05:00
End: 2025-05-08T21:00:00-05:00
Location: Schlafly Tap Room

Learn how to invest in large apartment complexes from the owners themselves. This month we will be about 10 units from Donald Shaver.
About this Event

Make it Happen Multifamily is pleased to present Tours & Pours - The Apartments (Case Study) featuring Donald Shaver!

The Apartments is a 10-unit apartment complex on 1012 N Third St Festus Mo 63028. Come learn how he did it and how you can too.
Event Overview
The property tour “TOURS” will be a case study presentation at Schlafly Tap Room 2100 Locust St. St. Louis, MO 63103 starting at 6 PM.

The networking event “POURS” will be after the presentation.

Tours & Pours is a monthly event attended by some of the multifamily industry's top owners, investors, brokers, and service providers. Invite your friends, bring some business cards, and build real relationships with new colleagues.

RSVP YOUR SPOT TODAY!!!

Property Overview

The property was purchased based on the ability to force appreciation through rent increases coupled with upgrades to the units themselves, and with the goal of eventually buying the neighboring property as well. This 10-unit property was well managed, but under rented with the average rent at $660/unit, and the market rate at over $750 at purchase. 3 years later the average rent is nearly $790/unit and the market rate has increased to around $900/unit.

The owner of the neighboring property has not responded to our attempts to purchase their property, so we will likely attempt to increase the average rent to $850 by June 2026 and then sell the property if we cannot refinance for an attractive rate.
Owner Feature Overview

I started investing in real estate in 2017 after leaving the USMC. I found a partner with a lot more money than me who was looking at all the same properties as me, and we decided to join forces instead of competing against each other. We had 3 rentals in 3 years, 7 units, and started doing fix n’ flips also in 2018. We did 5 flips before deciding that the juice wasn’t worth the squeeze, too much risk and effort for too little guaranteed return.

In 2021 we brought on a couple more investors who had money, but not a lot of time and found this 10-unit in Festus. I act as the property manager and main decision maker for the LLC partnership, while the other 3 investors mostly approve large upgrades and tenants after they’ve been screened.