Partner/Hard Money Lender Needed

I have a deal for a 36 unit apartment building. The sale price is $647 which is the balance on an assumable loan. The building appraised for $900 2 years ago but it has 13 vacant units that were left empty to do repairs. The problem is that i need a 20% dp according to the seller to get this done. Im looking for a partner with about $150k to put up for this deal. Right now with vacancies there is a 8% cap rate. When repairs are done & units rented its about 13%. I need funds for about a year.

Comments(3)

  • lavelle30th April, 2007

    Sorry, I should have said 776K, not 847K.

  • tpkaplan1st May, 2007

    I might fund this deal for you. send me rent roll, operating statement, & pix if u have to **Please See My Profile**

  • cjmazur7th April, 2007

    is this a commercial loan that has been securitized into a bond?

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