Multi family apartment opportunity
I have an opportunity to purchase 6.4 acres of land zoned for 115 apartment buildings. My financial models show 15% cash on cash return on a $950K investment for 65% of the equity. Any thoughts on finding investors and syndicating this deal? I have talked to a few guru's but everybody wants to buy existing buildings (and rehab them) , not build. It doesn't seem that much more complicated to build and with that you have a nice new building with minimum maintenance and repairs for the first 5-10 years.