16 unit class D - looking for partners

[Justin Jocewicz]

Team,

The works of an amazing deal has come across my plate. It is a 100% occupied, 16-unit building with a newer roof and on-site maintenance/management. 15 units rented at $400/each for a gross of $6000/mo. Low property taxes and repairs, but at a conservative 55% monthly income of $3,300, puts us at $39,600 NOI.

Pretty sure this building could be purchased for $150K or less...provided a CAP of 26% or more.

Warning....this is a class D area.  

What I am looking for is a passive income partner to split the monthly return.  I would handle all PM stuff and you would collect a check.  Reach out to me if you are interested!

[email protected]
561-225-4810

Tags:  South Florida, Multi-family, money partner, passive investor

I am a buy an hold investor with 8 properties that has been investing since 2011 and a landlord since 2004.  

[Brian Adams]

@Justin Jocewicz, I buy 100+ unit deals so I am not a fit for you.

To be helpful though so you attract a passive income partner to your deal, you probably should explain why you feel this deal is a good opportunity for the investor since it is located in a D area. 

I have made lots of money in challenging areas, I did extensive research on the market fundamentals, where "things" were being built in the area, jobs coming into the market, neighborhoods transitioning, incomes going up, crime going doing down, location to universities, hospitals, public transportation and many other factors.

The property could be a D now, but in a couple years with the right fundamentals the area could transition to a C+ or B area and that is where you will crush it for your investors.

The summary of the above, D areas can be good if you understand where and how the path of progress is tracking and trending.

Good luck!!