Atlanta Short term rental - 10% preferred return plus upside.

[Stewart Wyne]

Hello BP community. 

I'm seeking an equity partner that can also provide financing for a Vacation rental property in Atlanta. I've got 5 units now in my short term rental portfolio in Atlanta, and still more demand than I can handle. (Check out my 2 latest properties)

https://www.airbnb.com/rooms/20194795

https://www.airbnb.com/rooms/21209373

I have another property under contract in Old 4th Ward that's perfect, and I'm getting a great deal on it.. Looking for an equity partner to put up the down payment and apply for financing... Sale price is $684k, 4BR/3.5bt, 3200 sf. Newly remodeled home in the heart of the city. Great area. Lots of development. Will have 50k in equity at closing. Seeking 200k for down payment and furnishing costs. I'll manage everything from start to finish and management.  I'm offering 10% preferred return on the 200k, plus 50% of the profit on the back end (50/50 ownership). It's basically a long term cash flow deal.

My value proposition is the deal itself, my track record and experience with similar properties, and I don't charge a property management fee (since I'm part owner). Total COC return should be around around 15% annually. Short term rentals have no risk of eviction or long term vacancy b/w months.

 If interested, PLEASE email me at [email protected] I can send you all the details, plus the Pro-forma and NOI (P&Ls) from my comparable properties to show the performance of those. I'll pay a finders fee if you bring me an investor. Terms may be negotiable. 

You'd have to decide pretty quick as I'm under contract already, so I have limited time.

Happy Holidays