All Forum Posts by: Curtis Nesbitt

@Todd Dexheimer yes I wanted to validate my numbers and I had a question. I like the tip and I will definitely do it. I want to bring in a equity partner to do the deal. Looking at my current offer I know the deal wouldn’t work with a equity partner because there is not enough profit in the deal. My questions is, what do you think is a good rate of return for a investor in this deal?

@Keith Jablonowskiand @Peter Nikic I want to bring in a equity partner to do the deal. I know now with the current numbers this would not work. As a investor what would you suggest as a good rate of return on investment for a equity partner?

@Keith Jablonowski my apologies for the confusion the owner started at 4 million and now he’s at 3.6 million. My numbers are base on me offering 3 million.

@Peter Nikic yes I know that the balloon would need to be paid off within 5 years. I was thinking that by that time I would have made quite few payments that will give me a little equity in the property and make it a little easier to refinanced.

I have 34 unit building owner is asking 4 million. The owner will consider owner financing he owns the building free and clear. He has had the building for about 6 years. The building brings in a total of 375k and the total expense is 125k. After paying all expense the building nets 250k.  After running my number I think the building will do about 187k which includes factoring management fees, maintenance, vacancies etc.  The owner is asking 3.6 million.

My offer owner finance offer:

Purchase price is 3 million 

10% down 
4% interest amortization over 20 years with a 5 year balloon