All Forum Posts by: Brian Hosier

I am a Canadian looking to finance a great portfolio of homes in Ohio. It's a challenge to find a U.S. lender without having an American partner who has 51% ownership.

Has anyone found a credible off-shore lender who is NOT a scammer?? I am using LinkedIn as a source to build a database of international lenders but most are a waste of time.

Any help is appreciated and I will do my own due diligence.

I am a Canadian looking to finance a great portfolio of homes in Ohio.  It's a challenge to find a U.S. lender without having an American partner who has 51% ownership.  

Has anyone found a credible off-shore lender who is NOT a scammer??  I am using LinkedIn as a source to build a database of international lenders but most are a waste of time.

Any help is appreciated and I will do my own due diligence.

MODERATOR:  PLEASE NO DISCUSSION OF SPECIFIC LENDERS HERE.  THAT NEEDS TO GO INTO THE MARKETPLACE.

Very sorry but I have been offline for a couple of days and my apologies to each of you for not reply back in a timely manner. I may be able to secure an alternative funding source that will eliminate the need for an additional partner. I will know more in the next few days.

If I am unable to secure this source of funds, then I will contact each of you as requested with more details.

Many thanks for putting your name forward in consideration.

Just a few days left to be part of this large multi-family deal in West Cleveland. Let me know if you're interested.

Thanks for the interest from a couple of potential investors already. I have confirmed with the listing agent that there are other serious buyers looking to take this portfolio so I will need to act soon. If interested and think you qualify, contact me at [email protected].

CALLING ALL SERIOUS INVESTORS LOOKING TO PARTNER IN A $2.9M DEAL.

(DEADLINE IS MAY 10, 2014)

WHAT WE’RE LOOKING FOR

I am partnering with @James_Wise who many of you know as a major contributor on BP and an expert in the Cleveland market.James is co-founder of the Holton-Wise Property Group and is a realtor, investor, and a professional property manager.James and I are looking to find an additional JV partner to participate on this deal.

I currently have under contract a portfolio of 53 houses in desirable West Cleveland. This amazing package of quality homes has been acquired over the past 18 years by an investor who is ready to cash out and move on to a larger deal. The result is an excellent opportunity for the right partner to join us in a deal that is ultimately ‘No Money Down’.However, to qualify as a partner you will need to provide funding of up to $100k to close the deal (which will be refunded at closing) and have assets of at least $250k in verifiable cash, brokerage accounts, money market, etc. (can’t use retirement accounts typically).

WHAT’S IN THE DEAL

·53 house portfolio in West Cleveland near Brooklyn

·63,600 SF

·Price/Unit - $54k

·Gross income - $500k annually

·NOI - $269k, approx. $23k per month before debt servicing

·Rents range from $600 - $950 per unit

·Turnkey investment with NO deferred maintenance

·100% occupied with little turnover

·Opportunity to increase income even higher

·Entire portfolio is within a 7 mile radius in West Cleveland

·Very low management with 85% of rent direct-deposited

·Portfolio appraised at approx. $3.5-3.7M providing instant equity of at least $600k

·Seller will refinance portfolio securing $2.5M in funding which will be assumed by us

·Additional $400k (for a total of $2.9M) will be as a seller take-back mortgage at a competitive rate

QUESTIONS or INTERESTED?

If you have questions or want to be considered for this amazing deal, contact me directly.I can provide more information and will send a form for you to complete.

THIS OPPORTUNITY IS TIME-SENSITIVE SO YOU MUST REPLY BY MAY 10th

Garrett, well done! Now on to the next deal and many more.

Thanks @Robert Leonard and @Thierry Van Roy these are some great resources that I can add to my "Investor's Tool Kit".

I am considering purchasing a 40 unit apartment in Cleveland which would be my first entry into the commercial market. I have purchased multi-family in the past but only up to 3 units. Also, I have 'book knowledge' from various courses but this deal is the real thing!

Does anyone have a checklist they use when evaluating an apartment building for purchase? Any other info of tools to use when analyzing the deal would be appreciated.

Thanks.

Thanks all for the quick feedback. I took J up on his offer for the business plan on his web site. Exactly what I wanted!