Deal that Cash flows, need PML
Good evening BP community. I am an investor who traditionally rented out single family homes. I am looking to move onto the next phase (Details below).
16 unit town house, Currently 100% occupied, $300 below market rent, average occupancy over 3 years is 95%, growing market, large manufacturing plant coming, and residential occupancy is exploding. Built 2022 (this would not be a value add as far as upgrades go inside the units).
When doing the numbers it will cashflow through market interest rates, but not as comfortably as I would like.
The opportunity I face is not having enough to put down, so I am looking for either a partner who will bring the money and we can negotiate the split, or some guidance on raising capital (905k estimated- I would be putting 200k down on my end), or a lender to take a second position on and loan me the DP.
I did not want to overload with details and/or give away this deal (sorry).