Creative Financing - Multifamily Apts 74 units

[JJ De La Llera]

Hello, I am looking for a creative way to structure the purchase of a multifamily apartment complex in central KY. 

The out of state owner is looking to offload this apartment complex where they have overspent on capital expense items in the last 3 years due to natural disasters. NOI is low compared to where they want to be in terms of purchase price and NOI does not justify the price. Property has low maintenance ratio due to the recent improvements done at the property (common areas and many of the interior of the units). They have many approved applications in their pipeline for tenants and occupancy is at 92%. They have been increasing rents but I am expecting to receive rent roll and T-12 soon.

Wonder any creative ways to structure a deal in this situation where seller is wanting a higher price than what NOI brings in.

Thank you!
 

[Jaime Duron]

Hi JJ De La Llera! I'd be interested in underwriting the deal and see what I can come up with. Send me a message.