Found excellent deal in Phoenixville PA; Seeking partner

[Erich Beyer]

Hey all, my brother and I own 19 units in Phoenixville PA and have just found a great deal. I've had my eye on this property for two years and it came up for sale yesterday. It was taken back by the bank from the owner. Here it is:https://www.redfin.com/PA/Phoenixville/219-High-St...

It is listed as 6 units but is actually 8. I went through the property yesterday with my contractor. We expect the numbers to look like this:

Purchase: 325k

Rehab: 75k

ARV: 650-700k

Each unit would rent for 750-800. We own a 5 unit up the street and recently had an appraisal done so I am confident in these numbers. The reason we are looking for financing is because we have not refinanced the 5 unit yet. We are looking for a partner who would fund some or all of the costs. We have a hard money lender we work with who would lend, but we would need the down payment and carrying costs. We can be creative and would consider straight loans or a JV. If it were a loan we would purchase rehab rent and refinance you out. If you wanted a JV we could discuss exits. If you are interested in working with us please let me know. Feel free to pm, email, or call. See my profile for contact details. Thanks for your interest.