28 Unit BRRRR - Need Partner - 8k Mo Net Ca$h Flow!

[Natalia Benshaw]

Hi!  

Thanks for looking!  I am a broker for 18 years and former lender in the LA area.   I consider myself well versed on all sides pf the closing table, have fixed and flipped many homes in the L.A. area and have owned all across the country over the last 16 years.  My family imports cabinetry so I can also supply those materials at cost for this project.  I grew up in construction and from all of my transactions over the years I have a pretty good handle on construction costs and overseeing rehab.  I have transitioned into ONLY buying multi family and I need a partner on this one!  These buildings are the same seller and next door to one another.  I would like to turn them in to a little student housing community of furnished units with security cameras, wifi and some other student like amenities.  

The first one is a 10 unit.  Please note that BP does not have a field in their calculator to finance in construction costs so the cash need would actually be approx $82,500 + Closing costs (30% of 275k - 200k acquisition + 75K in rehab = 275K)  The lender I have used before will defer payments during the construction period and the contract states that the building will be delivered vacant.

https://www.biggerpockets.com/calculators/shared/1...

The second one is an 18 unit and is pretty much the same as above however the cash needed here would be approx 120K + Closing Costs (30% of 400K - 300k acquisition + 100k in rehab = 400K)

https://www.biggerpockets.com/calculators/shared/1...

Summary: 

I will handle obtaining financing, negotiating/overseeing rehab, will fly out to the property before any contingencies are removed and handle all ongoing management outside of the property manager. 

I need a capital partner to either share in the income and equity long term OR be willing to be cashed out at the time of refinance OR if they cannot be completely cashed out be willing to maintain fractional ownership long term.  Open to other ideas as well!

Please message me if you are interested in partnering OR if you are a lender that specializes in investments such as this.  Thanks :)