Need $300k to Close Deal - Terms Negotiable - Double-Digit Return

[Andrew Taylor]

48-unit student housing complex in Texas. 100% occupied for upcoming school year (12-month leases). Leases guaranteed by university.

• Asking price $2.6M
• Purchase price $2.34M
• Funds pledged to-date $300k
• Gross income $398,546
• Total expenses $158,010
• NOI $240,536
• CAP 10.3%

I am looking for an additional partner (or partners) to put $300k into the deal so we can secure conventional financing with 25% down. Structure flexible:

• Debt financing (interest only, 10% simple for 5 years, return of original capital at refi/sale in year 5)
• Debt financing (6% @ 30 years w/ 5th-year balloon)
• Equity financing (12.5% buy-in gets 15% of net profits)
• Other?

I am actively seeking other sources for this funding, but the seller won't wait forever. If interested, please contact me at [email protected] or via PM here at BiggerPockets.