My name is Kyle Callahan and my business partner is Kevin Sessa. We recently invested in ourselves by enrolling into a Multi-Family course, however we are having a hard time finding a sponsor. I am 24 years old and Kevin is 26 years old, and we both live in Philadelphia, PA. I work as a loan officer for a mortgage company and have my real estate license in PA and Kevin is a consultant in the energy industry.
Our metrics to consider a deal are a cap rate of at least 6% a cash on cash return of 9% (with a 7% return in year one) and a debt coverage service ratio of 1.4+, with a hold time of 3-5 years.
If this is of interest to you or anyone you may know please feel free to reach out and connect. We would love to talk further with you to see how we can add value to your portfolio.
We are looking at value add properties that are 40+ units, primarily 80’s vintage, or newer with a price range of $5-15 million. Regarding locations, we have been focusing on emerging sub-markets in Kentucky, Tennessee, Florida, and Georgia. As for PA, we have been focusing on Lancaster, West Chester, Allentown, and Philadelphia.
We are looking for a sponsor to bring us mentorship and experience. In return, we can bring you B-C+ value add opportunistic properties that meet the criteria listed in the post, as well as investors.
We would love to hear your thoughts and feedback on this.