56-Units with 79% Seller-Carry @ 7.0% Fixed (Locked)

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56-Units with 79% Seller-Carry @ 7.0% Fixed (Locked)

Patrick Lismon
Investor · Bowling Green, KY · Member since 2023 · 73 posts · 22 votes

Hi everyone,

I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

The "Locked" Financing (The Edge):

  • Debt: $2,050,000 Seller-Financing (Already Negotiated).
  • Rate: 7.0% Fixed / Interest-Only.
  • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

  • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
  • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.

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Jaycee GreenePro Member
Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
8mo
Quote from @Patrick Lismon:

Hi everyone,

I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

The "Locked" Financing (The Edge):

  • Debt: $2,050,000 Seller-Financing (Already Negotiated).
  • Rate: 7.0% Fixed / Interest-Only.
  • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

  • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
  • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.

 @Patrick Lismon What banks are quoting you 8-9%? The market for this size of deal is probably in the mid 6% range IMO.

[email protected]
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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    8mo
    Quote from @Patrick Lismon:

    Hi everyone,

    I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

    The "Locked" Financing (The Edge):

    • Debt: $2,050,000 Seller-Financing (Already Negotiated).
    • Rate: 7.0% Fixed / Interest-Only.
    • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

    In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

    Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

    • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
    • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

    We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

    If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.

     @Patrick Lismon What banks are quoting you 8-9%? The market for this size of deal is probably in the mid 6% range IMO.

    [email protected]
    1Reply
    • Patrick Lismon
      OP
      Investor · Bowling Green, KY · Member since 2023 · 73 posts · 22 votes
      8mo
      Quote from @Jaycee Greene:
      Quote from @Patrick Lismon:

      Hi everyone,

      I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

      The "Locked" Financing (The Edge):

      • Debt: $2,050,000 Seller-Financing (Already Negotiated).
      • Rate: 7.0% Fixed / Interest-Only.
      • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

      In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

      Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

      • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
      • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

      We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

      If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.

       @Patrick Lismon What banks are quoting you 8-9%? The market for this size of deal is probably in the mid 6% range IMO.

      Great point, Jaycee. While some banks quote 6%, the total 'all-in' cost (origination, reserves, variable rates) often creeps higher. Our 7% is fixed and interest-only for 4 years. For a $700k equity partner, that delta creates a Day-1 cash-on-cash return that traditional debt can't touch.
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    • Philip JosephPro Member
      Investor · Warner Robins, GA · Member since 2021 · 97 posts · 51 votes
      8mo
      Quote from @Jaycee Greene:
      Quote from @Patrick Lismon:

      Hi everyone,

      I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

      The "Locked" Financing (The Edge):

      • Debt: $2,050,000 Seller-Financing (Already Negotiated).
      • Rate: 7.0% Fixed / Interest-Only.
      • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

      In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

      Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

      • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
      • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

      We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

      If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.

       @Patrick Lismon What banks are quoting you 8-9%? The market for this size of deal is probably in the mid 6% range IMO.


       Good catch.  My last loan in Nov from a local bank on a multifamily was 6.5% and only 1 point origination.  It was not interest only though 

      0Reply
  • Philip JosephPro Member
    Investor · Warner Robins, GA · Member since 2021 · 97 posts · 51 votes
    8mo
    Quote from @Patrick Lismon:

    Hi everyone,

    I am currently finalizing the acquisition of a 56-unit multifamily community in Macon, GA. We are in the final stages of the PSA (targeting execution this Monday) and are looking for a Joint Venture (JV) partner to join us on the equity side.

    The "Locked" Financing (The Edge):

    • Debt: $2,050,000 Seller-Financing (Already Negotiated).
    • Rate: 7.0% Fixed / Interest-Only.
    • Runway: 2-year initial term + two (2) 1-year extensions (4 years total).

    In a market where bank debt is hovering in the 8-9% range, this pre-negotiated 7% seller-carry provides exceptional day-one cash-on-cash potential and removes the financing hurdle entirely.

    Investor Returns: We are structuring this as a classic GP/LP split to provide transparency and downside protection:

    • 8.0% Preferred Return: The JV partner receives the first 8% of all cash flow.
    • 70/30 Split: After the 8% Pref, remaining profits/upside are split 70% to the Partner and 30% to the Sponsor.

    We have already completed the bulk of the diligence and are looking for an equity partner (~$700k) to help close this out and execute the value-add program.

    If you have an interest in a high-leverage Georgia play, please Direct Message (DM) me today. I have a 1-page summary and a full diligence folder ready for review over the weekend.


     Patrick,  I'm sure you guys have already done your due diligence and know the area well, so I wish you well...There's money to be made in Macon.  I can't help you on the financing side, as my money is already invested in my own properties.  But, I've done over 40 renovations and a couple new constructions in Bibb, Houston and Peach county since 2016.  Message me if you need help on the renovation side.  

    Philip, Owner Creole Construction

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