50/50 Profit Split JV - Saint Louis MO 17% Cap Rate

[Jason Genovese]

Hello,

I have a four unit 1 bd 3,876 sqft that I purchased recently finished the rehab.   I have one tenant currently in place (he has been there for $25 years!) and should have the three remaining units filled soon.  My numbers show a estimated Cap rate of 17%.   The estimated appraised value is just a guess on my part, I can have 4-unit appraised as needed.     I am looking for a Joint Venture Partner; the $35,000 buy-in is estimated to return around 17%.

Property Name:	Harney
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Investment	$35,000
Estimated Appraised Value	$65,000
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-	Yearly	Monthly
Rent	$19,200	$1,600
Operating Expenses	Yearly	Monthly
Insurance	$600	$50
Taxes	$600	$50
Sewer	$1,200	$100
Utilities	$600	$50
Capital Expenditures	$1,000	$83
Management (10%)	$1,920	$160
Vacancy (8%)	$1,536	$128
Total	$7,456	$605
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Total Property Cash Flow	$11,944	$995
Return	34.13%
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50% Cash Flow	$5,972	$498
50% Return	17.06%
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Capital Expenditures are repairs such as roof, water heater, AC, Appliances

I have one other property in inventory with similar numbers. I also can find similar deals if interested.

Thanks,   Jason