All Forum Posts by: Matthew Bernal

Went under contract on two large multifamily properties set to close in December.

I have the current the financials for both assets, and was wondering if I should enter the data into RentRedi now? Am I getting ahead of myself? Please advise!

Congrats on completing your deal! 

@Chris Seveney

My first position is being held by Park Place Finance, and the second position will be held by either one investor, or an LLC owned by a group of investors.

Here's the timeline:

December 1: Close 

January 15: Section 8 Approval

February 30: 95-100% Occupancy

June 1: Refinance at 8% Exit Cap

Would be happy to send you the analysis and property details. What is a good email to send more information?

Offering a 12% annualized return on an investment of $500,000 for 24 months. The funds will be used to close a multifamily apartment complex with an annual net operating income of $323,000. 

Minimum buy in is $150,000. Investors will be secured by a deed of trust and promissory note. Contact me via email at [email protected] for more details. 

Frederick,

I gave you call. Please feel free to reach back out at 808-892-9309. 

Aloha, BP Fam!

I currently own a multifamily property in Cook County, and am offering a 25% equity position to passive investors to get involved!

I already have a reno loan for 100% of the construction, and am now in need of a capital injection to bring the property to the finish line.

Rehab will take six months, at which point, I will refinance and airbnb the four finished units out.

Here's the Investment Process:

Investor receives a 10% annualized return month over month until rehab is finished.

Investor receives their initial investment plus interest upon cash out refinancing.

Investor receives dividend disbursements for five years, paid quarterly. 

Inbox me for more details!

@Marci S. I can put you in touch with a great lender who does 85% of appraised value on cash outs after your name has seasoned on title for 30 days. 

Thank you so much for the advice. I was thinking Air BnB was the best way to go, rather than LTR. Do you think that would serve as enough of a buffer until things go back to normal?

@Michael Kinsella I actually had to hit the reset button on those Chicago projects. I extended my loan, restructured my exit strategy, and ensured that my former partners were able to walk away without taking a loss. I just hired a new architect and am making arrangements to have my construction crew in CA to finish up both of the projects. 

Currently, I am trying build a fund in order to simplify my transaction process. 

For example, I have 10 properties under contract, totaling 105 units. All of the projects would give investors great returns, while empowering me to do what I do what I love: Networking, Scaling, and Closing. I see that you're a lender. Any strategic advise?

Thanks @Jonathan Klemm. Sent you the details in a DM. 

@Michael K., thank you! The Chicago projects were some of the first acquisitions I did. 

I chose to work with partners because it's good to have people to learn from and be accountable to. 

Especially in the beginning.  Thanks for reaching out!