Downpayment Split Investment, Columbus Apartments, High Yields
We have a 56 unit property under contract in Columbus we are looking for a partner to split the down-payment. We have the lenders, the property management co, everything in place and know this property well. Would need $250k as we will put up the other $250k. In return, would do a 70/30 equity split of income and profits.
Property is $2.1mil and would NET income $70k first year (conservative) and $140k second year.
Plan would be to refi around year five, pull out cash and hold for another five years to sell. Refi in five years would mean $1mil cash out so $300k to you and then you can stay on for the remaining five or we will purchase your share. If staying on for 10 years, property would be worth $3.2mil or great then so again another $1mil profit, not to mention the ten years of yearly profit and tax benefits.
Entire property is in a great section of Columbus with 100% s8 renters, good tenants, which means solid payments every month. We've been working with multi-families for ten years so we've got the entire process down. Honestly didn't expect this property to go under contract but it did so not looking to spread our capital reserves too thin, hence bringing on a partner.
If you are familiar with the Midwest, this area is one of the best to invest in period in this country due to our great CAP rates and solid rental structure.
Our company is nearby so we are able to view the property, make sure everything is being done by the PM company, etc.
This is a solid investment for anyone out of state without all the worry. MORE than happy to show our analysis sheets and have you talk to our lawyers and PM firm to show what type of company we are. Again, we are putting up $250k of our own so our success is your success.