Buy and hold investment deal!

[Sherri D.]

I have under contract a 6-unit apartment complex in Kalamazoo, MI worth approx. $225,700 per the area cap rate that I am purchasing for only $119,900 which is only 53% LTV. What I am seeking is one or two investors to help purchase this property. I have $10,000 into the deal, $8,000 I spent with due diligence on inspections, retainers, earnest deposit, etc, and have $2,000 remaining to cover any closing costs. I am looking for EITHER one investor for $36,000 (30% of purchase price) for a down payment plus a second investor for the remaining $83,900 (70% of purchase price) OR one investor to provide 100% of the purchase price. Terms negotiable but I am offering 10% APR for 2 years, 30 year amortization with no prepayment penalty. The property cash flows very well and is 100% occupied. There is 47% equity to split between the 2 investors or have 1st lien position if you are a single investor. I also have a detailed business plan complete with profit & loss and cash flow statements available upon request. I have been investing for 4 years and am an accountant by trade with almost 20 years experience. If interested please respond ASAP as I have to close very soon!

Thank you for your consideration! Sherri Duncanson