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Updated over 9 years ago,
254 Unit Complex as My First Deal, any advice?
I am looking for constructive advice on how to get this deal under my belt. I know it's big but these type of deals keep comming up and I see alot of opportunity here. I am in Houston, TX and the property has a existing loan on it that I can assume. I am a buy and hold type of investor so the prepayment penalty means very little to me. I will hold on to the apartment complex for at least as long as the penalty exists. I'll need about 2 mil to get my hands on the asset and I can increase it's value by at least 2.5 mil in 3 months. I know this equity will not be immedaitly availble to me but the extra cash flow will help me pay down the debt that much quicker. I know if I can get this deal out the gate my investing career will be on the fast track to success.
I have VERY Little money and just below fair credit. I am interested in working with partners and private investers.