Seeking JV Partner 12-18 mo. project w/ 8-12% ROI (Need $75k)
I have an 8 unit in NC that has been recently remodeled but but has below-market rent and 6 of 8 units ready to convert to new rates in first 3 months. I am seeking a short term JV equity partner for down payment on the property. JV Partner will receive 40% of the monthly cashflow until a cash-out refinance can be completed. At this point their loan will be repaid +4 points and stake in company released.
Projected Y1 Cashflow: $12,448 - $15,367
Partner Share: $4,979 - $6,147
Points on Repayment: $3,000
Income: $7,979 - $9,147
ROI: 10% - 12%
Looking for