My first Excellent deal needs a partner

[Johanna R.]

Hi All,

Im really excited bc I got my first offer accepted!
Thanking Gino Barbaro, the "Multifamily Mentor" for his guidance.

Now, I'm looking to partner up with someone whose experienced w/ repositioning a MF. It would be for 50/50 partnership with your expertise and my hands on work. (Also possibly physically overseeing the repositioning for the first month)

Price: 1.8 Million
Terms:
200K downpayment
800k Bank financing
800k Owner Financing at 4.5% for 10 year
55 unit Built 1973
Location: Ocala Florida
Cap rate 7.3%
Cash on cash: 29%

Its 2 beautiful B- block garden style apartment buildings in a B neighborhood and walking distance to amenities w/ a bonus 3/2 house on the premises (that needs work.)
Its a classic Mom & Pop burned out landlord scenario w/ deferred maintenance and lack of systems thus having all the add on values of:

-RUBS

-Market value rents

-Application fees

-Pet Fees

-Storage Fees

-Carport Fees

-Laundry facilities

Looking forward to making great deals and partnerships!

Happy Holidays!
johanna