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Updated about 4 years ago,
Analyst my deal! Please Advice? Best ways to JV- Wholesale? N- NJ
Hi BP
Man, I need some analysts and advisement please. stressed!! 2 separate deals i'm working on, it may be best to seek JV-partner to ease my loads. Anyone have advice on the ways to seek JV-wholesaler? Any advice in general especially about mixed-use/ commercial properties wholesaling is highly sought.
#1) Irvington New Jersey, 07111, mixed-use property, 1000sqf 1st-floor commercial open space, need some repair- no current least. 2nd floor is 3 bedrooms, 2 baths, rented but the whole building needs moderate rehab, asking only 190k..ARV 300-350k conservatively!! less than 50k repairs. And I have a very possible commercial tenant lined up, for after-sale for multiyear lease commitment (after repairs), 2000k a month, rented 2nd-floor unit is grossing 1200k currently paying and up to date (this year taxes due less than 8k).
I have worked on an executive summary property, datasheet, and other numbers but I just don't know this mixed stuff, I want to be reputable always, I don't want to be misleading or be incorrect (can't post it in this thread anyway- no address included here).
2nd) East Orange NJ, 4bed, 2 baths, converted 2 family into 1 family, 1400- 1700sqft, it has been fully gutted, the new fully open concept upon entering 1st floor. and rehabber is out of money and time, but into this deal already 200k in the current rehab. interesting point lots of materials are pre-purchased and locked in the property and included in offer, like the roof, some hardwood, some kitchen materials and more. Fully Stud Framing Completed on all 3 floors and basement, All electrical is Rough-in waiting on inspection. All appropriate permits are pulled and approved by the city already. Again all stud-framing completed throughout, a finished basement, nd all electrical is roughed in, including an upgrade to new 200 amp panel. asking only 199k.
so-called 3 cash buyers stood me up, this weekend made me look crazy.
trying to get quality buyers and advice on working out the details, what would any knowledgeable member do if these were your deals? Any and all analyst & advisement is welcome- this is almost enough headaches to make me want to drink (almost ten years without one) again or maybe smoke (over 7 years without one) once again, no only- kidding -Thanks guys and gals in advance.
-(contact me in private if you don't want to post your advice is welcome also)