Partnering to Grow Passive Income - Acquire Cash Flow Properties

[Kevin Lee]

Hi, I've been investing in Memphis, TN for a while. I'm seeking partners in acquiring SFR properties in Class A/B neighborhood (Bartlette, Millington, Midtown, Cordova, Germantown, etc). I have built a solid relationship with a professional property management company and established relationships with brokers and local lenders. The brokers have approached me with deals that are pocket listings in its truest meaning of the term (I get the first dip before they even get listed). The local lender I have sourced is a local Credit Union that offers good terms (better than what I found elsewhere) and does not have Fannie-Freddie restrictions (e.g., no 10+ financed properties, etc.).

Over the years, I have been acquiring rental properties that are cash flowing positive.  Factors that make my rental properties cash flow positive are 1) finding some sort of distress from sellers so we can get properties at a discount (unlike Turn Key properties that have a built-in margin that reduces the cash-on-cash return for end investors) 2) great terms from my local financing institution 3) great property mgmt company that keeps expenses in check.  

I am seeking partners who would like to grow their passive income by providing the needed cash infusion in acquiring more assets and growing their passive income.

Here is an example of one property I have under contract right now.  I'm seeking partners to provide the down (credit is a problem, no problem, I got that covered).  Here are the numbers (all very conservative).  Ping me and I will share more details:

Purchase Price: $80K
Down: 20%
Closing: 5%
Cash outlay: $20,000.00
Loan amount: $64,000.00
Interest rate: 4.25%
Yearly PI (5y with 25y amortization): $4,160.55
Insurance: $800.00
Property Tax: $1,695.00
Annual Income: $10,972.80
NOI (Income subtract expenses): $4,317.25
Cash-on-cash: 21.59%

Cheers.
Kevin