Menu Close

features
Good Location
Deed completed
x3 Beds
User Certified
From 2017
Something else
About this deal

Working on an acquisition for 3 multi-family properties in central Illinois. We already have a large footprint in this market with nearly 100 doors between me and my partner. My partner is the Operator of the company and has full management team in place. These properties are a 10plex, a 6plex and a triplex. We need funding for acquisition and will be handling any and all rehab expenses ourselves. which are minimal. We're offering a 12% interest only payment for 2 years. Would also be willing to discuss some equity in the deal for the duration of the loan so that the lender can also participate in cash flow. Our exit strategy is to refinance the property with a local bank within the year as we finish revitalizing the units and increasing rents. The seller is retiring and we've negotiated this deal for over 3 months to get it at the price that makes most sense and gives us best downside protection in a changing marketplace. We've anticipated rates going up as high as 10% on a 20 year fixed with the bank due to market conditions and the DSCR will still be well within guidelines along with the income approach value of the properties. Personal Financial Statements are available for review.

location

Location

November, 1
Active
Interest + Cash Flow Participation MultiFamily Deal
300000

Working on an acquisition for 3 multi-family properties in central Illinois. We already have a large footprint in this market with nearly 100 doors between me and my partner. My partner is the Operator of the company and has full management team in place. These properties are a 10plex, a 6plex and a triplex. We need funding for acquisition and will be handling any and all rehab expenses ourselves. which are minimal. We're offering a 12% interest only payment for 2 years. Would also be willing to discuss some equity in the deal for the duration of the loan so that the lender can also participate in cash flow. Our exit strategy is to refinance the property with a local bank within the year as we finish revitalizing the units and increasing rents. The seller is retiring and we've negotiated this deal for over 3 months to get it at the price that makes most sense and gives us best downside protection in a changing marketplace. We've anticipated rates going up as high as 10% on a 20 year fixed with the bank due to market conditions and the DSCR will still be well within guidelines along with the income approach value of the properties. Personal Financial Statements are available for review.

documents

Documents

Documents