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.
Sorry, I should have said 776K, not 847K.
I might fund this deal for you. send me rent roll, operating statement, & pix if u have to **Please See My Profile**
is this a commercial loan that has been securitized into a bond?