Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 2 years ago,
How to find good syndicators for a 64 unit
GM all. I just locked down a 64 unit in Stockton TX. I find it very hard to find a buyer for it, I’ve been marketing it for a week and I haven’t met any serious buyers.
And I'm convinced that the deal is good. It's a 64 units, located in Stockton TX, light rehab, asking is 2.460m, Current Monthly Rent: $25,250 Potential Monthly Rent: $79,000, potential cap rate is 25%, ARV is 9m if you sell at 7% cap rate. A great value add on opportunity overall.
This is my first dealing with a deal as big as this, I’ve work with 10+ units but not 60+. I’ve known the owner for quite some time and I don’t want to let him down, he’s old and is motivated to sell. If you know anyway I can go about finding serious syndicators for this deal please share your thoughts. Thank you in advance.