All Forum Posts by: Wayne Mack

Client has an off market 7 unit building she's looking to sell - Property is occupied

Asking - $1,300,000

Unit 1 Storefront - Rent $2,300

Unit 2 (1 bed) - $1,170

Unit 3 (2 bed) - $1,500

Unit 4 (1 bed) - $1,350

Unit 5 (1 bed) - $1,350

Unit 6 (2 bed) - $1,500

Unit 7 (2 bed) - $1,500

Roof - $4,000/yr (rented to an advertiser)

Annual Income - $124,800

Expenses

Electric 12/mth (Hallway)
Gas 4800/yr (controlled by landlord)
Tax 17,300
Ins 4700
Water 350/qtr
Sewer 800/year

Hi Everyone,

A colleague of mine is constructing a multi family commercial development project here in North Jersey. He is currently seeking an experienced Developer to serve as Limited Partner in this project. 

This developer has over 20 years of experience in developing commercial property and needs someone with vision and know how to bring something new to the marketplace

Feel free to contact me for more details if you are interested or know someone who would be

Thanks,

Wayne

Hello BP!

My group and I are currently working on a total of 7 projects including Real Estate Development (new construction) & Private Business Equity Funding. 

Our clients are seeking private funding from institutional investors and Private Lenders ranging from $100K - $25M. Our deals include both debt and equity positions 

We accept referrals and we offer fees for referrals. 

Feel free to contact me or have an interested party do so. ([email protected])

Thanks 

Wayne Mack

Hi Everyone,

A Client of mine owns a 4 unit property here in North Jersey. The building is in downtown Newark and houses a business in which the owners of the building own as well.

The partners are seeking $200,000 for a total renovation project for the entire building.

The team has also just secured an advertising contract with a major business for building signage grossing $20,000-$40,000 monthly.

We are still negotiating whether this will be a debt or an equity position. Either way, returns should be between 8-20% depending on negotiations

Hi Everyone,

A Client of mine owns a 4 unit property here in North Jersey. The building is in downtown Newark and houses a business in which the owners of the building own as well.

The partners are seeking $200,000 for a total renovation project for the entire building. 

The team has also just secured an advertising contract with a major business for building signage grossing $20,000-$40,000 monthly.

We are still negotiating whether this will be a debt or an equity position. Either way, returns should be between 8-20% depending on negotiations

Good morning Tom! My name is Wayne, I am an investor/Developer in North Jersey working with a team of 15 people with acces to funds up to $100M. We investi in areas including Jersey City, Newark, and Paterson. I went to college in the Greater Boston area at Merrimack. 

Anyway, Both Newark and Jersey City offer some of the best returns nationwide

So if you’re interested in the North Jersey/Greater NYC area I would be more than happy to be your boots on the ground here 

@Etienne Martel Thanks for the advice! 

I thought the layout was a little weird but I didn’t view it as a disadvantage at any point. 

I just thought it could cause trouble trying to get it rented because of the connection 

Good Afternoon All,

I am in the process of purchasing a 3 unit property. However, I have run into a slight glitch....

The downstairs unit has two bedrooms, both are connected by the same doorway, there is only one way to get into the back bedroom and that is through the front bedroom. I like the cash flow potential of this property

How big of an obstacle would this be?

Please Advise

Thanks,

Wayne

We have a 4 Property fully occupied portfolio for sale in Newark NJ. Up & coming areas of the city. 

All prices listed are if purchased individually. Each one can be discounted if purchased as a package. Contact me directly for more details - [email protected]

Property 1: $310K - 11.5% CAP

3 units

Property 2: $310K - 10% CAP

3 units

Property 3: $345K - 13.3% CAP

4 units

Property 4: $310K - 11.6% CAP

3 units 

8 property portfolio! Total units equal 256 in Newark NJ!

An associate of mine has a client who is looking to off load his portfolio for $25M

Details will be disclosed following a POF letter from a serious buyer. If you have any clients, who may be interested feel free to reach out to me!

Thanks,

Wayne