I'm a cash buyer

I'm looking for a large apt. complex that may be stolen for cash with upside potential. I attempted to purchase one through a contact here on BP for 2 million plus. Lost out to another offer, but still in backup position. I don't want ghetto, just a property with maint, mgmt, or vacancy problems. Post here or join as colleague and pm me. Thanks. Rich.

Edited: 06/26/2010 at 07:39AM

James Hiddle

Real Estate Investor · Altus, Oklahoma

2515 posts
9267 Influence
7 Awards

Icon_minipost Mar 22 '09, 09:27 AM

Where?

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 22 '09, 09:49 AM

I'm not area bound as long as it isn't a ghetto. Needs to be property with great upside potential with cash being the king. Rich.

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 22 '09, 12:36 PM

Mr investor, you got anything to look at? Or anyone else?

Edited: 06/26/2010 at 07:40AM

Jason Trepins

Real Estate Investor · Wyoming, Michigan

195 posts
342 Influence

Icon_minipost Mar 22 '09, 12:49 PM

i'll take a peek early this week...
but i won't waste your time if it's something I wouldn't jump at myself.(if I was LOOKing to buy apartments)

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 22 '09, 01:10 PM

I have a back up offer on a 2.1 million deal, but if that deal doesn't fly, I have immediate cash avaiable.

Edited: 06/26/2010 at 07:40AM

John Andre

Real Estate Investor · Mission Viejo, Cape Coral, California

232 posts
89 Influence
1 Award

Icon_minipost Mar 22 '09, 01:50 PM

Rich, Just saw this post by you. I sent you a request. Looking forward to our call tomorrow. I have a few things for you to look at.

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 22 '09, 09:05 PM

Sounds good. I'm in Texas.

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 23 '09, 06:33 AM

Left a phone message for you John. Anyone else have something to sell that meets my requirements? Rich.

Edited: 06/26/2010 at 07:40AM

James Hiddle

Real Estate Investor · Altus, Oklahoma

2515 posts
9267 Influence
7 Awards

Icon_minipost Mar 23 '09, 06:53 AM

How many units do you want?

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 23 '09, 06:56 AM

In a single location. 50 or more. Had a nice possibilty in TX that I lost out on of 170+ units to another offer.

Edited: 06/26/2010 at 07:40AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Mar 24 '09, 08:05 AM

I want to thank John Andre and Will Barnard for the properties they've presented to me. I'm working on them and not wasting time. Other BP folks, I'm interested in good projects you might have as requested in the original post in this thread.

Edited: 06/26/2010 at 07:41AM

David Roberts

Residential Real Estate Broker · Carmel, Indiana

51 posts
16 Influence
2 Awards

Icon_minipost Apr 23 '09, 12:46 AM

I have information on a 200+ unit in Indianapolis. It is a HUD property that is being taken back from the owner. Closing would have to be May 8th. If you are interested please let me know and i'll get more information to you ASAP!
David

Edited: 06/26/2010 at 08:01AM

Eric Clark

Real Estate Investor · Wilmington, Delaware

45 posts
14 Influence
1 Award

Icon_minipost Apr 23 '09, 04:47 AM

Rich,

I have access to (3) 100+ unit properties in and around Dallas.

by the way what is your price point?

Edited: 06/26/2010 at 08:01AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Apr 23 '09, 05:06 AM

To David- I don't think I have time to analyze that one before May 8, but send me info.

To Eric. I have a previous offer with a couple BP members of over 3 million each. Rich

Edited: 06/26/2010 at 08:01AM

Eric Clark

Real Estate Investor · Wilmington, Delaware

45 posts
14 Influence
1 Award

Icon_minipost Apr 23 '09, 12:08 PM

There is a 80 unit in Dallas for $2.1M
and the other to are in the suburbs of
Dallas for $4.3M (126 units) & $6.2M (193 units)

Edited: 06/26/2010 at 08:01AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Apr 23 '09, 12:55 PM

Eric, I had a 2.1 million offer on 172 units in Dalls, and lost out to a 2.3 million offer through Will Barnard of Nationwide here on BP.
Also had a shot at 348 ubnits for 3 million through Will. Didn't pull the trigger soon enough.
Yours seem too much per door. I want a problem property, but fixable and I have cash to do it. Rich.

Edited: 06/26/2010 at 08:01AM

Eric Clark

Real Estate Investor · Wilmington, Delaware

45 posts
14 Influence
1 Award

Icon_minipost Apr 24 '09, 05:47 AM

Rich,

I will see what I can find for you.

Edited: 06/26/2010 at 08:02AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
54461 Influence
23 Awards

Icon_minipost Apr 24 '09, 06:07 AM

Rich,

I have two others I am working on both are asking around $20k per door and will be offering around $15k per door. If I get one of them, I will let you know. I have one of my people going to both locations to check out and verify the area, surroundings, and units.

Will

Edited: 06/26/2010 at 08:02AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

John Andre

Real Estate Investor · Mission Viejo, Cape Coral, California

232 posts
89 Influence
1 Award

Icon_minipost Apr 25 '09, 01:05 AM

Hey Rich,
I was sent a list of commercial properties I will forward over to you. On it is 184 unit in Texas. I have a request in to the bank for more information. Will be getting it on Monday. I will send it over, if anything looks good, let me know.

Edited: 06/26/2010 at 08:02AM

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