We have a 58 unit light touch value-add deal in Reno Nevada under contract and had an equity partner back out because the check size ($2.5mm) was to small. There is a lot of value in the deal, we have just finished inspections and physical due diligence with full reports and the deal is better than we expected. We are exploring options to get it over the finish line. Target closes mid December. Any equity providers we may have missed other options we should explore?
Rental Property Investor · South Lake Tahoe, CA · Member since 2016 · 65 posts · 41 votes
5y
Hi @Dave Velasquez I came across this thread after connecting with @Scott McGuire. Curious how this deal is going. Did you find the equity partners you needed to close this deal?
Lender · Chicago, IL · Member since 2016 · 653 posts · 313 votes
5y
@Dave Velasquez Where's your primary debt coming from? I specialize in financing multifamily deals like this and could advise in that arena. Always happy to jump on a call and discuss.
@Eric Johnson sounds good. We’d be game to chat through what you can do on debt too. Let’s do a call tomorrow. I can DM my number or feel free to send yours
Rental Property Investor · Houston, TX · Member since 2017 · 529 posts · 467 votes
5y
A great source is to join a local real estate investor group as well to get around passive investors. My students raised enough cash to buy over 1200 units in the last 90 days. We could help you on future deals.
@Stephen J Davis Great advice and congrats to you students! Local meetups have been tough thru covid but we like the idea of getting around passive investors. We have a handful we are talking with outside of our normal network of investors.
Rental Property Investor · South Lake Tahoe, CA · Member since 2016 · 65 posts · 41 votes
5y
Hi @Dave Velasquez I came across this thread after connecting with @Scott McGuire. Curious how this deal is going. Did you find the equity partners you needed to close this deal?