Equity Partner Needed – 33 Unit Multifamily (12–24 Month Refi Exit)

[Eduardo Cambil]

I’m currently under contract on a 33-unit multifamily portfolio in Iowa and looking to bring in an equity partner to complete the capital stack.

This is a cash-flowing asset (~$170K NOI) with a straightforward execution plan and a defined refinance exit.

Deal Overview

• 33 units – small multifamily portfolio
• Purchase price: ~$1.4M
• Estimated value: ~$1.7M–$1.8M
• Current NOI: ~$170K
• DSCR ~1.7+ (strong in-place coverage)

Business Plan

This is not a heavy rehab deal.

The focus is:

• Improve rent collection and operations
• Adjust below-market rents
• Optimize expenses
• Stabilize NOI for refinance

Structure

• Bridge loan at ~80–90% LTV
• Equity needed: ~$180K–$220K
• Hold period: 12–24 months
• Exit: DSCR refinance

Investor Terms

• Preferred return: 8–10%
• Flexible structure (LP or Co-GP)
• Profit split: 70/30, 80/20, or 90/10 depending on involvement
• Full capital return + preferred return at refinance

Why This Works

• Already cash-flowing → lower downside risk
• Moderate value-add (execution, not construction)
• Clear refinance path based on current income + upside
• Short hold → defined exit and capital recycling

Looking For

An equity partner comfortable with:

• Short-term (12–24 month) value-add deals
• Multifamily operations
• Fast execution

Important:
Not looking for debt, hard money, or bridge lenders.
Equity / JV partners only.