All Forum Posts by: Mauricio Ramos

Incredible OFF MARKET VALUE ADD opportunity in McAllen Texas

This property is on Gumwood Rd, includes 8 units of multifamily space a few minutes away from downtown McAllen just between Ware Rd and N 23rd, main roads in McAllen. All units are currently occupied.

Current NOI $17,300

Projected NOI after reposition $28,200

Asking price $247,000

For more information, pictures, rent roll, etc please contact Adrian at [email protected]

OFF MARKET Apartment Complex in San Antonio TX

Property includes 7 units (occupied) + 1 Beauty Salon (operating successfully for over 12 years)

Includes 2 lots (all buildings on one of the lots, the second lot is empty) Both zoned commercial

Current NOI= $37,953

Asking price $270,000

Cap rate at purchase= 14%  

For more information, rent roll, pictures, etc, email Adrian at [email protected]

SOLD!

OFF MARKET Apartment Complex for Sale on South Flores St, San Antonio TX

This is a 24 apt complex + 4000 sqft of retail space located in the heart of South Town and the Lone Star District. This is one of the last buildings to be re-developed in this area. Near King William, South Alamo, Blue Star, Downtown.

The property features beautiful original wood floors, 12ft+ high ceilings, original windows, original brick facades and other items that provide an amazing Historic Character to the property.

Address 1425 S Flores St, San Antonio TX 78204

Asking price: $1,375,000
Current NOI: $62,424

Improvement Budget: $500,000

Estimated Value of the property after repositioned $3,300,000

Closing by end of June 2018

For more information please contact Mauricio 

hello Peter

I am actually scheduled to double close on a mf deal in a couple of weeks. 

Assuming the deal will leave you a juicy 5 figure fee or more, you will probably have to double close unless the buyer is paying cash. The banks will typically have a huge heartburn about a fee like that and will not accept a regular contract with an assignment like you see in SFH. Another option is to amend the contract to the new purchase amount with your fee included, with the new buyer's name and assign it after. Both the assignment and the addendum get sent to title at the same time.

Just make sure both parties and the title company are ok and aware of the double closing and you should be fine. Sometimes you will need to come up with the money to close, sometimes you wont, depends on the deal and title. 

Good luck

Mauricio

Quarter Acre Lot for sale in Pleasanton TX 

Financing Available

LOW MONEY DOWN EASY monthly payments

Address 715 San Antonio St, Pleasanton TX, 78064 (second lot from Selly's Restaurant)

This lot is ready for you to build your dream home, see conceptual design.

Asking price is $19,150 cash OBO

Financing available with a LOW downpayment of $5,500 and EASY monthly payments of $399.

For more info, DM me

Corner lot FOR SALE BY OWNER - Financing Available

Great location, perfect to setup a MOBILE HOME, LOW money down, EASY monthly payments. This sale does NOT include the mobile home.

6,500 sqft of land with utility hook ups ready, right on Hwy 97 (across the st from Sellys) for SALE. Perfect to move you MOBILE HOME. Move in ready today!

Property address 730 SAN ANTONIO ST PLEASANTON TX 78064

At this location you will not have any neighbors, you have your own parking spaces.

Asking Price $12,350 OBO Financing available with LOW downpayment of $3,700 and EASY monthly payments of $291.

For more info, DM

Thanks everyone on the clarification of multi member vs syndication!

Thank you!

Hello BP,

I have some experience with owner financing and in multifamily but havent syndicated/closed on a MF property with commercial bank financing. 

I have an 8 unit apt under contract in Texas, numbers are great, have a few investors interested in the deal, acquisition fee is setup, equity/cashflow to investors distributions are setup, basically ready to pull the trigger. My question is how to handle the investors' money? The idea is to set it up in a way of deal sponsor / passive investors setup where they get a quarterly distribution and equity in the deal, and for them to be a limited member of the asset that will eventually own the property.

1) Do i get it and give them a promissory note with the terms?

2) Do i create the LLC first and then get the money? Or do i get the money first and then go and create the LLC?

3) Do i get the money or do they wire it to title directly prior to closing? 

What is the best way to do it when trying to syndicate and give the investors their quarterly cashflow, etc.

Thanks for your help!

Mauricio

@Account Closed to answer your last question, to analyze the property quickly you want to know 

• income (rents, covered parking, laundry room, utilities, etc)
• expenses (utilities, landscaping, pool maintenance, payroll, tax, insurance, etc)
• building age, roof age, AC units age, water heaters age (all roughly)
• owned free and clear? mortgage?

I am with @Scott Skinger and you should read some of the info out there to get more familiar with commercial real estate. I recommend Making big money with small apartment buildings, Brad Sumrok's $100 online course, and some of the bigger pockets books as well.

Lastly, i am in San Antonio, if you are willing to do the short drive from Austin, let me know and we can meet for coffee and i will be happy to review your questions with you.

Mauricio