Updated over 8 years ago on . Most recent reply
** Opportunity for You to Fund two 4-Unit Projects **
My name is Jonathan Lake. My partner and I have buy/hold properties in Rochester, NY, Indianapolis, NYC and PV, MX. We currently have 16 units in our portfolio. All of our projects are Buy/Rent.
Currently, we have two projects in Indianapolis for you to invest.
1. We purchased a distressed 4-Unit + 2 Car Garage for $60K cash (our own money). We have put $30K into the renovation (our own money). The entire renovation budget is $100K. We had it appraised came back at $195K ARV.
- Forecasted Annual Gross Income (Rent, Garage, Laundry) $47,400
- Forecasted Annual NOI $32,120
- Forecasted Monthly Cash Flow (minus PI) $1,677
- We have invested $90K of our own capital to date
The Ask
- $100K to finish the renovation and take out $30K to put back into our purchasing fund. We still remain invested at $60K purchase price.
2. We are in contract for another 4-Unit which closes on or before April 11th. The contract price is $150K and the renovation cost is $60K. The ARV is $275K. The owner is willing to carry the contract with $30K down or we can buy it outright.
- Forecasted Annual Gross Income (Rent, Storage, Laundry) $40,200
- Forecasted Annual NOI $26,460
- Forecasted Monthly Cash Flow (minus PI) $822
- We will put in $20K of our own money
The Ask
- $200K to purchase and rehab the property
or
- $90K to lock in seller-contract and complete the rehab
The projects can be funded separately or combined into one loan. I look forward to hearing back.
Jonathan Lake
917-297-3943