Looking for Money Partner(s) to Fund 50-Unit Multifamily Deal

[Steve S.]

Hey friends. I have a currently performing 50-unit multifamily complex available to me and I'm looking for a money partner or two to fund it. The idea would be to have a JV partnership. It's a solid cash flow deal that's located in a tertiary market in KY. I have a few other projects in the area which are going to increase the value and desirability of the market in the next few years with bringing jobs etc...

Purchase Price:     $1,150,000

Gross Income:       $25,000 / month

EBTIDA:                 ~$12,000 / month

CAP RATE: ~12%

Seller Carry back:     $150k in 2nd lien position at 4% negotiated already for 5 years

There are some upgrades we can do which will reduce the monthly costs by about $3k - $4k per month and will increase the overall value of the property by about $400,000 for a $250,000 cost. Those savings will grow over time. 

I found the deal and am glad to be the asset manager for it to make sure that it performs.  I'm in need of money partner(s) to get it closed.  Please reach out if this piques your interest and you want to discuss it further.

There are also ways to include it within the opportunity fund as well and or if someone has the full amount to bring for the deal we can securitize the JV money brought in with the 1st trust deed position. It's a safe secure deal. Let's talk.