Wanted: $6 Million Private Money to buy $12M+ forced appreciation 300+ door Multifam Apartment Buildings

[Jack Tucker]

Money will always find the great deal...  Calling all smart money:

Mismanaged part-time by Mom-and-Pop Heir for decades, 

Owner is ready to liquidate to me for cash at above market cap given AS-IS performance.

307+ doors with miles of upside

44% vacancy (135 vacant), Surrounding Market rents are double for comps. 

OWNER IS DOING ZERO MARKETING !  ONE MISTRUSTED COMPUTER IS IN WHOLE OFFICE.  SKELETON CREW UNABLE TO KEEP UP.  HE'S READY TO GIVE UP.

Revitalization completed on all sides. 

Downtown corridor with large Medical campuses across street

The Down units not included in the 307 count - 2 entire buildings with 21 units ripe for remodel or divest for highest and best.  Strip mall? retail? zoned best commercial grade. Street frontage is on one of the highest traffic count in the metro area.  

The Vision: My Team lists all repairs during diligence and prioritize the remodel strategically for the low-hanging fruit to turn/rent fastest. Your $6 million would complete the cash purchase and fund all rehab. My team manages the professional rehab, My team asset manages and installs Professional PM. 21st Century MARKETING in order to drop to 10% vacancy.

Goal 1 - Within 12-24 months - Bump rents over time by minimum 50%. = NOI of approx $1 million. Forced-appreciate the property to $12.3 M assuming 8 cap. Market cap in this city is 5-7%. On the $6 Million basis, this would be a 16.7% CAP.

Goal 2 - Within 24-48 months - bump rents closer to market at 2x and your NOI becomes $1.5 Million, a 25% CAP on the 6M basis!!! and property valued at $18.75 M assuming 8 cap. 

You bring the cash. I bring the deal and the hustle.  We both bring our experience and the love of the game.  Contact me ASAP to get a confidentiality agreement and more details... such as the spreadsheet I had to enter from the provided handwritten ledgers of the April rent roll.  Ability to perform is everything.   This is a commitment for both sides.

Private Money Lenders Hard Money Multi family Southeast Tennessee Georgia Florida Alabama Carolina apartment buildings distressed seller large investor commercial development multi-million double digit cap