18-unit property under contract looking for capital

[James Carter]

I have an 18 unit apartment building under contract in Edcouch, Texas. It is located 20 minutes from Edinburg, and about 30 minutes from McAllen. It is currently 83% occupied and it is cash flowing. The current lenders are asking 75% LTC and that value is $225k. The property was on the market for $950k and we brought it down to $900k. We have $115k in the bank and about $100k+ in stocks that could be liquidated. We are looking for a capital investor that can bring in about $60k - $100k to the table so that we can make the deal and do necessary renovation on some of the older units. The average rent is around $620 and we could push to around $700 on most units once they are renovated.