All Forum Posts by: Reginald Lewis

Off Market 220 Unit Minneapolis MN, 16 Building Portfolio: Ask $29M + 3% 10% assignment fee

Buyer’s Fee, 7.7% Cap. Class B, 100% Occupancy

Current/Actuals: 7.7% Cap Rate, 1.60 DCR, 9.1% CoC

Total # of Units: 220

Current Ask: $29M

# of Buildings: 16 (All within close proximity to each other, 1 Property Management Company

Can Manage).

Building Class: B

Neighborhood Class: B

Current Gross Actual Annual Rent: $2,489,004

Total Vacancies: 3 (99% Occupancy)

Average Rent (Current): $1,076

Market Rent: $1,250

Potential Annual Gross: $2,948,364.00

Over 100 Units recently fully renovated in past 12 months and already back to fully rented.

Need a POF and LOI to get in-depth information. POF must show bank contact with phone

number.

*Addresses, floor plans, tax rolls, pictures, financials including two years of T12 provided with signed NDA

CLASS B+ ASSET

895+ UNIT ASSET ON 38 ACRES

OUTSTANDING AMENITIES

PRE-DUE DILIGENCE WITH PROVIDED FINANCIALS, RENT ROLLS, TAX INFO, FLOOR PLANS, PICTURES, AND T12

MULTIPLE DOG PARKS WITH AGILITY EQUIPMENT, BIKE RACKS, 3 CLOTHES CARE CENTERS, GRILL/BBQ/PICNIC AREAS & BREAKFAST BAR

PLAYGROUND, OPEN CONCEPT LIVING, 4 POOLS, A CLUBHOUSE, CYBER CAFE, STATE OF THE ART FITNESS CENTER & TENNIS COURT

APPROXIMATE SQUARE FOOTAGE: 949 SQ.FT PER UNIT

AVERAGE RENT: $930 PER UNIT

CURRENTLY 92% OCCUPIED

TOTAL RENTABLE SQUARE FOOTAGE 880,000+, OCCUPIED SQUARE FOOTAGE IS 808,000+

ACTUAL CURRENT MONTHLY RENT: $881,742.37

GROSS ANNUAL INCOME: $11,465,003

ANNUAL EXPENSES: $5,360,058.37

NOI: $5,404,090.63

CAP RATE: 5%

*PURCHASE PRICE IS FIRM AT $108,000,000. AT THIS PRICE 3% FEES TO BE PAID BY SELLER. 50/50 Splits.

I have a Nationwide verified cash buyer list over 1100 buyers send me your email I will send you an invoice and a copy of the list. Updated daily I will resend weekly.

I believe you, I have been using REVA for 2 weeks great experience so far. I feel like he is getting more done for me.

I am considering using a real estate virtual assistant to help me get some task done and close wholesale deals, current quote for services is about $11 hr. Is it worth it?

i listened to him on the podcast, he gave a lot of insight on ways to retire early and live a better life.

I have 6 rental properties under contract 5 currently oocupied 1 needs rehab rent will be 900. I need 10k asap down payment will split rent 50/50 for 6 months thats 13200 for helping me.

Anyone ever do any surplus recovery?? Can you teach me?

when is a good time to increase the rent,after buying occupied rental properties???

The last few the word lawyers keeps coming up with me and a circle of friends. Do I need a real estate lawyer on retainer? And why?