Seeking additional JV Partner for a $2.9M portfolio of SFR in West Cleveland that is No Money Down

[Brian Hosier]

CALLING ALL SERIOUS INVESTORS LOOKING TO PARTNER IN A $2.9M DEAL.

(DEADLINE IS MAY 10, 2014)

WHAT WE’RE LOOKING FOR

I am partnering with @James_Wise who many of you know as a major contributor on BP and an expert in the Cleveland market.James is co-founder of the Holton-Wise Property Group and is a realtor, investor, and a professional property manager.James and I are looking to find an additional JV partner to participate on this deal.

I currently have under contract a portfolio of 53 houses in desirable West Cleveland. This amazing package of quality homes has been acquired over the past 18 years by an investor who is ready to cash out and move on to a larger deal. The result is an excellent opportunity for the right partner to join us in a deal that is ultimately ‘No Money Down’.However, to qualify as a partner you will need to provide funding of up to $100k to close the deal (which will be refunded at closing) and have assets of at least $250k in verifiable cash, brokerage accounts, money market, etc. (can’t use retirement accounts typically).

WHAT’S IN THE DEAL

·53 house portfolio in West Cleveland near Brooklyn

·63,600 SF

·Price/Unit - $54k

·Gross income - $500k annually

·NOI - $269k, approx. $23k per month before debt servicing

·Rents range from $600 - $950 per unit

·Turnkey investment with NO deferred maintenance

·100% occupied with little turnover

·Opportunity to increase income even higher

·Entire portfolio is within a 7 mile radius in West Cleveland

·Very low management with 85% of rent direct-deposited

·Portfolio appraised at approx. $3.5-3.7M providing instant equity of at least $600k

·Seller will refinance portfolio securing $2.5M in funding which will be assumed by us

·Additional $400k (for a total of $2.9M) will be as a seller take-back mortgage at a competitive rate

QUESTIONS or INTERESTED?

If you have questions or want to be considered for this amazing deal, contact me directly.I can provide more information and will send a form for you to complete.

THIS OPPORTUNITY IS TIME-SENSITIVE SO YOU MUST REPLY BY MAY 10th