Looking for private money or HML

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Looking for private money or HML

Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

Have a deal I am looking at right now.It's a 60 unit apartment building.

Full stabilized will generate an NOI of 155,000 a year.Currently right now at 45% occupancy at NOI of 79,000 a year.

Purchase price would be around 450k to 500k.Buying on the low basis I would reduce rents from 460 a month to 400 to increase occupancy.

Resale at a 10 CAP will have a value at 1.5 million.Let me know if anyone can partner with me with cash or can do a loan.

Anymore info just ask.

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  • Jared RineBusiness Member
    Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
    15y

    Hi Joel,

    If you have not found a lender already, email what types of terms you are looking for. I have a few direct lenders (all totally legit; not going to find Remington, Kennedy or the like over here) in my back pocket. After I get email, I can shoot you some information along with what I need from you to get an answer and get your deal done. Thanks. Info below.

    Jared Rine

    Jared Rine United Lending Partners53 Reviews
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  • Loc R.
    Note Investor · Pasadena, CA · Member since 2009 · 849 posts · 544 votes
    15y

    How much do you need?

    How much & how long do you expect for rehab?

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  • Joel OwensBusiness Member
    Moderator
    OP
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    15y

    The property is currently in need of a light rehab in 10 of the units with carpet and paint.

    Lease up after rehab will be fast as I would drop down the rate to 99 a week.

    Hoping for 500k.Buy at 450k with 50k of rehab ground improvements.Property was built in 1983.

    My e-mail is in my signature line if you want to talk further and have a private discussion.

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  • Casey Stewart
    Orlando, FL · Member since 2010 · 6 posts · 0 votes
    15y

    Hey Joel,

    I may be able to help. I am interested in hearing more about your scenario. Please message me with more details. I have access to many in-house investors. Thanks

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