Looking For Hard Money To Do Deal
We have found two Gas Stations in greater Los Angeles, California. We have found two properties that offer 13.5% cap rates (to our very conservative estimates, adding $120,000 expenses a year to each station). 16.5% Cap Rate if owners expenses are what they claim.
Total deal is $6.8M. We are looking to raise around $2M and bank finance the rest. Investors would be secured with a second on the Real Estate.
We are looking for creative advice on where to get this money and how to structure the deal to attract investors and allow them to be feel secure in this investment.
Any advice would be appreciated. Pretty exciting deal as average Cap Rate in LA is 5-7%. We are at 13-14% without adding any value with hands on experienced management.
I have sent you a Private Message EELLC.
We are just getting this under contract, most of funds are raised, but we are going to be doing additional deals shortly.
Hello,
If you are still interested in obtaining the funds to acquire these assets, please send me a email to my address listed below, along with a phone number, and best times to call. Once I receive this from you, I will call and ask some basic underwriting questions, and we can get serious about providing a solution that will best suit your needs. Looking forward to hearing from you soon.
Best Regards,
Dennis
[ Edited by woodsong on Date 05/03/2007 ]