@Jamison Remmers What type of deal is this? It looks like a big multifamily deal which is great. The returns are very high but it's not clear why this happening. If you can provide some more background on the deal that would be great.
@Obi I. Hi how are you? This is an 8 unit, luxury apartment complex, right on the beach with incredible ocean views. It’s turn key and has been upgraded in every aspect, from flooring and appliances and everything in between. On my calculations I made the interest 5% to be safe, but I’m sure rates will be lower. We need around 3.5 down and I’m reaching out to possible lenders on the remaining balance. I am currently working with and learning from a real estate friend of mine who’s been in the business many years. I am within a 20 minute drive to the property and willing to handle all property management with my partner. This property is a gold mine and will produce enough cash flow to pay back all investments fast! The property is set to make over 4 million just in the first year alone. This area is also very high demand, and these units are currently 100% occupied. I’m hoping to partner with trustworthy, driven, and dedicated people like myself. I hope to talk to you soon. Take care and have a great weekend.
ALERT ALERT bonehead mistake... Mixed up the monthly cash flow with the NOI. Big difference and this is not such a hot property anymore. Sorry everybody. Take care and learn from my mistake haha