506C Offering - Raising funds for a 94-Unit in Columbus

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506C Offering - Raising funds for a 94-Unit in Columbus

Michael ItaliaPro Member
Member since 2022 · 7 posts · 11 votes

Hey All, 

We're under contract for a 94-unit deal in Columbus.  We have over half committed of our 9.5M total raise. 

This is a townhome style complex, Class A in a highly desired community. We have financing locked in at 5.6% via Fannie and projected returns are 15-20% AAR, 13-16% IRR, 7% preferred return, equaling a 1.9 Equity Multiple over a 5-year hold.

Rents are $374 under market on average, and our business plan includes new roofs, HVAC, and interior renovations with a $1.76M capx budget to meet projected rents. 

If you or anyone you know needs to place funds or are interested in this opportunity, please let me know.  Our next investor webinar & Q&A is schedule for 4/24 at 6pm PST. Message me and I can send a link or provide more info about the opportunity. 

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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
3y
Quote from @Michael Italia:

Hey All, 

We're under contract for a 94-unit deal in Columbus.  We have over half committed of our 9.5M total raise. 

This is a townhome style complex, Class A in a highly desired community. We have financing locked in at 5.6% via Fannie and projected returns are 15-20% AAR, 13-16% IRR, 7% preferred return, equaling a 1.9 Equity Multiple over a 5-year hold.

Rents are $374 under market on average, and our business plan includes new roofs, HVAC, and interior renovations with a $1.76M capx budget to meet projected rents. 

If you or anyone you know needs to place funds or are interested in this opportunity, please let me know.  Our next investor webinar & Q&A is schedule for 4/24 at 6pm PST. Message me and I can send a link or provide more info about the opportunity. 


 I am also interested in taking a look

[email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
Reafco512 Reviews
WebsiteView Page
1Reply
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  • Donald Barham
    Rental Property Investor · Poughkeepsie, NY · Member since 2020 · 4 posts · 1 vote
    3y

    @Michael Italia I'd like to know the details about this opportunity & can you please provide me with the link to your meeting? Thank you.

    0Reply
  • Michael ItaliaPro Member
    OP
    Member since 2022 · 7 posts · 11 votes
    3y
    Quote from @Donald Barham:

    @Michael Italia I'd like to know the details about this opportunity & can you please provide me with the link to your meeting? Thank you.


     Hi Donald, I just sent you info about the opportunity.  If you have any questions, please feel free to reach out to me anytime. 

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Michael Italia:

    Hey All, 

    We're under contract for a 94-unit deal in Columbus.  We have over half committed of our 9.5M total raise. 

    This is a townhome style complex, Class A in a highly desired community. We have financing locked in at 5.6% via Fannie and projected returns are 15-20% AAR, 13-16% IRR, 7% preferred return, equaling a 1.9 Equity Multiple over a 5-year hold.

    Rents are $374 under market on average, and our business plan includes new roofs, HVAC, and interior renovations with a $1.76M capx budget to meet projected rents. 

    If you or anyone you know needs to place funds or are interested in this opportunity, please let me know.  Our next investor webinar & Q&A is schedule for 4/24 at 6pm PST. Message me and I can send a link or provide more info about the opportunity. 


     I am also interested in taking a look

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    1Reply
  • Michael ItaliaPro Member
    OP
    Member since 2022 · 7 posts · 11 votes
    3y
    Quote from @Remington Lyman:
    Quote from @Michael Italia:

    Hey All, 

    We're under contract for a 94-unit deal in Columbus.  We have over half committed of our 9.5M total raise. 

    This is a townhome style complex, Class A in a highly desired community. We have financing locked in at 5.6% via Fannie and projected returns are 15-20% AAR, 13-16% IRR, 7% preferred return, equaling a 1.9 Equity Multiple over a 5-year hold.

    Rents are $374 under market on average, and our business plan includes new roofs, HVAC, and interior renovations with a $1.76M capx budget to meet projected rents. 

    If you or anyone you know needs to place funds or are interested in this opportunity, please let me know.  Our next investor webinar & Q&A is schedule for 4/24 at 6pm PST. Message me and I can send a link or provide more info about the opportunity. 


     I am also interested in taking a look


     Hi Remington, I sent over the info.  Let me know if you have any questions. 

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Michael Italia:
    Quote from @Remington Lyman:
    Quote from @Michael Italia:

    Hey All, 

    We're under contract for a 94-unit deal in Columbus.  We have over half committed of our 9.5M total raise. 

    This is a townhome style complex, Class A in a highly desired community. We have financing locked in at 5.6% via Fannie and projected returns are 15-20% AAR, 13-16% IRR, 7% preferred return, equaling a 1.9 Equity Multiple over a 5-year hold.

    Rents are $374 under market on average, and our business plan includes new roofs, HVAC, and interior renovations with a $1.76M capx budget to meet projected rents. 

    If you or anyone you know needs to place funds or are interested in this opportunity, please let me know.  Our next investor webinar & Q&A is schedule for 4/24 at 6pm PST. Message me and I can send a link or provide more info about the opportunity. 


     I am also interested in taking a look


     Hi Remington, I sent over the info.  Let me know if you have any questions. 


     Got it thanks!

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
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