All Forum Posts by: Jay Sloan

I am a commercial real estate broker with an 81 unit portfolio for sale in Richmond, VA. I received a call from someone who you could tell had very little knowledge of multifamily investments and asked for some proprietary financials. I asked her to send me proof of funds and a bio. She sent me a letter from Commercial Property Advisors, Peter Harris, which stated she had approval for funds sufficient to cover the purchase price and below it listed a Wells Fargo business account showing funds in excess of the purchase price. This smells like a scam. Has anyone ever heard of this guy Peter Harris? Commercial Property Advisors Funding?

I have a 30 unit single family portfolio for sale in the Norfolk/ Virginia Beach area. Proximate the largest military base in the world.

The 30 unit portfolio is comprised of 3 single family homes, 7 condos, 18 townhomes, and 1 duplex, totaling approximately 34k sq. ft. Each property has been professionally renovated and in very good condition.  Currently the portfolio is 100% occupied and cash flowing nicely.  There is approximately 500k in built in equity factoring the valuations of these assets on an individual basis.  We have priced the portfolio based on cash flow only, which boasts a healthy 9-10% leveraged cash on cash return year 1.  Please contact me for more info.