Looking for down payment funds in exchange for monthly income

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Looking for down payment funds in exchange for monthly income

Investor · Chula Vista, CA · Member since 2017 · 38 posts · 1 vote

I am an experienced real estate investor in San Diego and am looking to invest with a partner who would bring down payment cash to the table in exchange for a 50% split in monthly cashflow from properties located in Arizona or other high yield MSAs. I currently own an 8 unit complex in Tucson and would deal with all managers, vendors, contractors, accountants, lawyers etc and wouldn’t handle any daily operation demand and of the asset.

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  • Real Estate Consultant · Houston, TX · Member since 2015 · 125 posts · 28 votes
    8y
    Hi Jeff, Do you have a property you’re trying to acquire?
  • Investor · Chula Vista, CA · Member since 2017 · 38 posts · 1 vote
    8y

    YES, there are 2, one in Phoenix and one in Tucson , both are about between 900k-1m, would need about 200k to close . Phoenix is a 16 unit and Tucson is 24 unit. I can send financials .

  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    8y

    How much of your cash will you be putting in?

    Will you be managing the property or will you hire a property manager?

  • Investor · Chula Vista, CA · Member since 2017 · 38 posts · 1 vote
    8y

    right now I could only pay for closing costs. If I had more i would buy the property myself. I would hire a professionals management company.

  • Contractor · Scottsdale, AZ · Member since 2015 · 49 posts · 11 votes
    8y

    Are the units A-B-C or D class properties?

  • Investor · Chula Vista, CA · Member since 2017 · 38 posts · 1 vote
    8y
    I’d say most likely C class given the condition and cap rate hovering around 8%
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