$750k+ Residential Portfolio - Seeking Lender 75-80% LTV

[Rafael Norat]

ATTENTION Lenders (Conventional or Private),

I have an offer to purchase 14 residential units in total located in the Wilkes Barre, PA area. These units are finished and fully rented with long-term tenants. The investor/ owner has owned these properties for 10 years+ and is looking to liquidate. Total purchase price is $725k.

Highlighted property/offer details are as follows:

PROPERY DETAILS

Property Address Number of units Monthly Rent

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18634 3 675+675+675 = 2025

18706 2 675+ 695 = 1370

18706 3 (Bldg # 1) 590+530+530 = 1650

2 (Bldg #2) 490+700 = 1190

18706 2 750+695 = 1445

18702 2 675+ 675 = 1350

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Total: 14 Units $ 9030 Monthly Gross Rent

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PROPERTY TAXES + INSURANCE

Property Address Property Taxes Insurance

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18634 2862.12 1010.00

18706 2244.76 456.00

18706 5132.85 1299.00

18706 1888.62 425.00

18702 1483.15 620.00

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Total: Property Taxes - $13,591.50, Insurance -  $3,810.00

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MISC EXPENSES

18634 Garbage Collection: 660.00

Sewer (total): 682.08

18706 Garbage Collection: -0-

Sewer: 423.60

18706 Garbage Collection: -0-

Sewer: 1051.60

18706 Garbage Collection: 430.00

Sewer: 423.60

18702 Garbage Collection: 106.00

Sewer: 423.60

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Total: $4190.88

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OTHER MISC. EXPENSES ( Maintenance etc )

$5000.00

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Total Gross Income: $108,360

Total Annual Taxes: $13,591

Total Insurance: $3,810

Total Garbage + Sewer: $4,190

Total Misc + Maintenance: $5,000

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Net Income: $81,769

PRICE: $725,000

20% DOWN: $145,000

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MORTGAGE AMOUNT: $580,000

-The seller is willing to carry back 10-15% LTV in a second position

-I am seeking a lender (private/conventional) willing to take a 1st position for 75-80% LTV amortized over 30 years, payout in 15-20 years

-Wilkes Barre PA is a classic linear market. Hospitals, Universities, Industrial Parks, and Pharmaceutical Call-Centers dominate the labor market.

-I own 40+ units in the area and have developed reputable management & rehab crews to support.

-Detailed information, including personal portfolio, balance sheets, tax returns, rent rolls can and will be provided to serious inquiries

Feel free to contact me directly if you have questions.

Thanks.

Rafael