Looking for a private investor - Multiunit in Cleveland, OH

[Al Perez]

I'm looking to get $110,000 to purchase an eightplex in Cleveland, OH. First mortgage position and I'll pay 6% annually. Property needs approx $35K in rehab (furnacers, hot water tanks, electrical update, roof repair, painting, clean up) which will come from another investor and the rents we expect to obtain from first two units. We have a crew of contractors, electricians, etc and our business is well established in Cleveland. We estimate ARV to be at $280,000 once all units are occupied. Commercial area, close to I-90 highway, Ohio City, and downtown Cleveland. Huge demand for rentals in the area.