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All Forum Posts by: Michael Ringwood ll

Michael Ringwood ll has started 23 posts and replied 34 times.

Post: Jv Opportunity in Hampton roads

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

I have a jv opportunities in 23451 & 23323. These properties need buyers, both properties should be under contract by tomorrow morning meaning we have to move quickly. Both properties are in decent living condition with cosmetics or updates needed.

Here's some quick stats on the properties

23451:

3bds 2.5bths 2668sqft

built in 1994

23323:

4bds 2.5bths 2500sqft

built in 2004

If you are able to bring a buyer to these deals, there is a finders fee $10,000 per property. Note that we must move quickly if interested, look forward to hearing from you soon

Post: Off Market in Charlotte NC

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

Berkley Place Apartments

Charlotte NC

Ask - $28M +3%

NOI - $1,530,000

[email protected]

Post: Off Market Multi Familes in Las Vegas

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

92 Unit Multi family 

Las Vegas, Nevada

Only $9,750,000 +3%


Cash Deal ONLY & Quick Close as owner has purchased a New asset.
Message us with Buyers Letter of Interest(Non-Binding) & Proof of Funds for financial Information on this asset!

Total Renovation in Progress on this Gorgeous 92 Unit Multifamily Complex in Las Vegas!!
**Very Desirable Area**


Total Renovation on the outside & beautifully Transformed--Resurfaced Buildings completely!
New Renovated Pool
New Landscape
Water Conserving Irrigation
Approved for the NEW Lighting--For A Crime Free Apartment Complex**
All New Flooring throughout the Rentals
All New Countertops & Much More
On-site Mgmt is outstanding
Maintenance personnel Exceptional
Occupancy 84 of the 92 units
Current Operating Cap during renovations is 5.75% CAP
When Renovations are completed the CAP will be 8%+
Renovations per Unit $4500.00

UPSIDE:
28-30 Units totally remodeled and transformed. 62 units left for rehab--All paperwork from each Vendor being used will be provided for the New Owner to complete the rest of the units identically, if they choose to do so.

Owner has been renovating the rooms as the leases are up, giving the tenants a chance to move into a totally new updated facility and increased RENTS!


Private SALE:
Pinehurst Apartments
Offered at $28,100,000 +3%

360 Total units (2 owners)
195 units for sale 6% CAP
Year Income $2.23mil
Year net income $1.6mil
Built 2001
Covered Parking

1bdrms 81units-- 700-775 sqft
2bdrms 93 units --928-1024 sqft
3bdrms 21 units --1156 sqft

31 garages ( Value 15-20k each) Can be rented 100+/m or sold--If this is of interest can get a firm price to purchase the Garages!

Gated Community
HOA Management in place
Community Pool and Spa with a clubhouse
9' vaulted ceilings
Garden tubs
Walk-in closets
Private Patios 0r Balcony

Contact this email for any questions!!!

[email protected]

sincerely,  Mike Ringwood 

Post: Multiple OFF Market properties for Sale

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

SERIOUS BUYERS ONLY!!!!

$750,000 +3%

 Elton St., Brooklyn NY, 11208

built in 2004

legal 3 family

lot size equals 2250

building size equals 3,060,

taxes are $6068.



$3,965,000 +3%

61st St

Brooklyn, NY 112200

Sunset Park

16 Units 4- Stories

Year 1912

BLDG - 48x86

$5,400,000 +3%

Bassford Avenue, Bronx NY, 10457,

33 units, buyer commission of 3 points , cap rate is 7,70%, 100% occupied, built in 1925, rated as historical Building, 5 story walkup, rental income is $445,647, taxes & expenses are $11,130, NOI is $409,000, lot size is 7385, building size is 28,000 Sq., Ft, purchased in 2015 for 4,250,000M, with complete renovation after purchase.

$7,725,000 +3%

 Bell Blvd, Queens, NY

Office Building Consist Of 6 Commercial Units On Bell Blvd. All free market rent leases, Property Is Currently 99% Occupied With Long Term Leases. The Property Is Only 10 Years Old With Lots Of Potential.

Property Consist Of Outdoor Patio, Huge Terraces, Under-Ground

Parking, Elevator Etc. Cap Rate 5.5%

$7,725,000 +3%

W 28th St New York 10001

THIS PROPERTY IS LOCATED IN PRIME CHELSEA MANHATTAN, CLOSE TO MACY'S.

BUILDING SIZE : 20 X 48

LOT SIZE : 20 X 49.33

ZONING : C6-4X

FAR : 10.0. GOOD FOR INVESTMENT AND BUILDER.

INCOME :

STORE : $10,000/MONTH

2 - 4 FLOOR ARE VACANT.

EXPENSE :

TAX : $64,180

INSURANCE : $2000

WATER : $600

$12,875,000 +3%

 Graham Ave, Brooklyn, NY 11206

Large corner property. 3 stores & 24 apartments with a potentially high cap rate & NOI, Value add play, better management needed. Near Williamsberg subway. 3 stores & 24 apartments, gross income is $721,500.00, with raiseable free rents that could have been raised quite a while ago. Expenses are $214,500.00 with new boiler & hot water,& NOI is $506,500.00.

$15,999,000 +3%

Neighborhood #1 Chelsea prime in NY
w 25th street NY NY 10001
Bet: 9th ave & 10th ave
Building dimensions25 ft x 83 ft

Building Area 9,800 sqft
20 units/ 16 vacant/ 4 occupied/ 2 tents ready cash for keys/
10 1 bedroom - 10 studios
Allowed usable floor area14,808
Zoning R8A , Lot size 25 x 98.75
Allowed usable floor area14,808 SUBWAY ONE BLOCK AWAY E C A

$25,750,000 +3%

 Dekalb Brooklyn, NY

35 units consisting of 35 1 bedroom apartments, & 2 2bedroom apartments with 16 car parking places, he says the buildings in turn key condition, & he needs proof of funds for a walk through with a soft letter of interest.

$47,380,000 +3%

 Grand St

Williamsburg, Brooklyn NY

Reduced down from 50M, with an assumable existing mortgage of 34,250,000M, meaning the buyer can grab this home run for 12,250,000M This is a free market building, 100% occupied with 52 units.We are direct to ownership. PLEASE DO NOT SPREAD THIS PROPERTY INFO ALL AROUND TOWN ONLY TO A REAL BUYER LOOKING FOR A MIXED USE APARTMENT HOUSE WITH STORES., There are 4 commercial units also fully rented.

WE ARE DEALING WITH VERY STRICT SELLERS WHO ARE REQUESTING A LETTER OF INTENT & PROOF OF FUNDS TO PROCEED. I'll get you all the financials, & NOI, so if everything is satisfactory to your buyer we then can sign a contract.

$30,900,000 +3%

Bridge Street Bridgewiew Tower

The deal consists of 32,000 of commercial space, including the Penthouse -

22,041 of this space is leased to AMARICHI Restaurant

http://www. amarachibrooklyn189.com/


Balance is the Penthouse, which was rented at $15,000 per month, but the ownership decided not to renew the lease because one of the principals thought they may wish to to use it.


Current rent on the Penthouse would be $20,000 monthly due to size. 50,000 SF garage= 30 parking stalls- which only 15 are being used. Income generating

The balance of the 28 units in the building are mainly sold to owner occupants and here is a recent comp.


SOLD

https://www.elliman.com/new-yo rk-city/bridgeview-tower-189-bridge-street-brooklyn?lt=sold

RENTALS- the rents are very ligh also-

https://www.elliman.com/new-yo rk-city/189-bridge-street-11c- brooklyn-ynolwds


A great play on this aside from pure income generating rental income is rent to own or exit strategy would to re-sell the units down the road since each has their own APN.

Email [email protected]

for more information!!!!

thanks everyone

What is the cheapest way or site to find mortgage balances? Im looking for a reliable source of course.

Post: Looking to purchase some Single Tenant Leases.

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

Hi, I'm an real estate investor looking for capital to buy single tenant lease properties for my passive income portfolio. The properties are all leased by reputable and National tenants, like LA Fitness, Kohl's & Walgreen's just to name a few.

Via promissory note, I'm willing to pay 15-20% return on your investment to my projects. I also will pay a monthly repayment as well as full pay off at the end of a 8-10 year period before each property is sold for profit.

Majority of the properties I'm looking to purchase are under 10 million dollars, which will all be fully paid off with interest within a 8-10 year period. If interested please give me call at 646-598-1896 or reply back to the email as soon as possible.

Post: OFF MARKET Apartment Complexes

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

Hello Everyone We have multiple NYC Multi Family properties available with distressed sellers. Email us at [email protected]

Post: OFF MARKET QUEENS NY 20 res/10 commercial units

Michael Ringwood llPosted
  • New York, NY
  • Posts 38
  • Votes 3

One area with exponential year over year growth is in Downtown Jamaica, Queens. The number of infrastructure projects, new development projects in the ground and continued resident growth due to the area's affordability... spell a great formula for many to start cashing in.

This 30-unit mixed use building, value-add opportunity, which is about 90% complete is available off-market. It features 20 - 3 bedroom / 2 bath apartments, and 10 bi-level commercial studios, great for national retail tenants (like a bank, grocery store, hardware, furniture). The property is an estimated at 46,000 sq. ft.

The Proforma's stabilized cap rate is 8.5%.

The asking price is $13.5M.

646-598-1896

@Dar Manarang  i have a multi family deal off market available for you..

[email protected]