16 Unit Investment opportunity- Investor Needed or Funding option

1 Reply

Hello Bigger Pocket fanatics!

So, I am here to present an overview of an off market deal I have access to at this very moment, and looking for someone who can help me close this deal. I am a local Realtor , and Investor myself. I live in southborough and I own a 3 family property in Clinton,MA and have participated in other flips as a realtor and advisor. 

The deal I have on the table is for 16 units. Asking price of 920,000

4 -1 bd units

12- 2 bd units

current rents are below market but the NOI is currently estimated at $91,663 (before debt)

With my knowledge of the market based on jobs, available and comparable housing, by staying just below market rents, we would at 138,000 NOI before debt. That is playing it very safe because it really does not take in to consideration more advance techniques of raising Gross Total Income. the investment needed at 25% down is 230,000 if we cant negotiate it down. plus an additional 320,000 in total repairs. Being very generous at 20k per unit (contribute to inside and outside renovation). More details through private message.

I am looking for an partner (investor) who will be guaranteed a preferred return on their money, + a percentage of the remaining profits. Exit strategy in place as well. 

If this is something that interests you as an investor, or you are able to assist me in the funding of this deal for myself, please feel free to reach out. I am currently in the process of putting together a presentation for this deal. 

Thank  you all for your time, and I hope to be in touch with you soon!