Need A Partner
Have a deal on a 42 unit building in NYC the owner wants 2.8 mil but I broke him down to 2.7 mil so far ...Gross 370,116 ,Total Expenses 109,345 ,NOI $242,265 CAP 9% . I'm doing two more deals right now ...So i'm strap for cash right now .. So I'm need to partner on this deal .downpayment needed ..Any suggestions
Sounds like a great deal. My advice is get the building under contract and look for equity partners to invest in the deal. Ive found here that there are definately investors out there with cash looking for a great returns. But in order to be successful you truly have to have a great presentation showing that you've done your homework and great communication skills. If you dont have these skills, my advice is to seek our someone who has skill , talent, and a proven track record to help out. Stay encouraged !!!!
Thanks for your encouragement ,But where can I get equity partners, that's my problem..
Try running an ad in the paper.
Good Luck
If you need someone to help you out I may be able to get a few parties interested. If you have a package or some sort with all info included send to me email **Please See My Profile**[ Edited by fredman226 on Date 01/26/2005 ]