Updated about 9 years ago on . Most recent reply
Looking for Hard Money/Private Money Funds for a Deal in Florida
Looking to fund the following deal:
3 unit in Florida
$170,000 purchase price
$2520 current rent in place through July 2017
-$252 management fee
-$125 yearly lease up fees
-$184 taxes
-$100 insurance
-$200 repairs/capex
-$80 yard
-$0 tenants pay utilities
-$0 vacancy; this is student housing with students lining up housing for the next year 5-6 months in advance
$1579/month NOI
The market rents are $360/bedroom and could be as high as $400/bedroom. I own a property a street over that's getting $360/bed. This property is getting $250/bed so there is some upside.
I am looking for a 90% LTC loan. Lenders, feel free to reach out to me if you can get up to 90%. Thanks very much.
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