All Forum Posts by: Cody Reilly

Hey everyone,

I decided to turn my attention to a different property, the one in Cincinnati needed much more work than i was comfortable with. Im currently working with someone on a 120 unit portfolio in Chicago all multifamily and above 20 units a piece if anyones interested. Shoot me a message. You can either play bank or JV with me

Yes, as long as they take the 2nd/Sub mortgage, and credit is young but getting better every month. They only require a 650+ and good CAP on the property.

If i cannot get approved with the 2nd creating 100% Plus LTV coverage and I am totally out of luck i will take on an equity partner, but untill then I dont want to cut both my equity and profits considering its a million dollar building and most commercial lenders arent worries about the owners income because its unlikely theyd be able to cover a 7k mortgage above and beyond their own bills.

Hey guys,

Ive been a wholesaler for a year now and am looking to grow my portfolio and get a couple 40 to 60 unit complexes in my name.

Average cost is between 700k and 1.1m, all true 10 CAP in the midwest and south.

Im doing the seller financing/Money partner 2 year refi route with a commercial bank as my main lender.   Because of wholesaling my income ranges 2k to 10k a month, and I was a student last year so the average of tax returns in the last 24 months will be maybe 2.5k a month because i didn't work in college and have only been wholesaling 8 months.  

Im looking for any advice on what to look out for in the units, how to make sure i get funding, and how to make good picks beyond a solid property, doing my due diligence and setting up a good property manager.

Thank you!!!!!!!!

Hey everyone,

Ive got an off market deal, a 57 unit apartment complex in Cincinnati Ohio for 1.3m

91% occupancy, 97k noi, True 10 CAP. Has 3 lots connected to it, worth 220k in land, much more if someone wants to develop it. Its turn key, prop manager and repair person on site, costs built in.

I need someone to fund the down payment at 250k with a 10% ROI on your money, and am open to terms.

Thanks!

Hey guys and girls!

Ive got a multifamily deal I want to do in Cincinatti OH in my old neighborhood. Off market asking 1.4m, 10% cap, 97k NOI, 91% occupancy, 3 empty lots to build on or sell (about 350k value) or another 80 apartments built on it if i chose to go that route.

I need 250k cash, be okay with being a second/sub mortgage, and be ready to pull the trigger in under 2 weeks. I have a full marketing package for those interested.

I DO NOT have cash to put in myself, that's why I'm looking for a money person. Terms are negotiable, lets make this deal happen!