Hi All,I wanted to lay out a deal I am looking at and get others opinions on quality of the deal and of options to finance considering the assumed mortgage.Asking Price: $1,425,000Mtg to be assumed: $720,000; 4.68%; 5 yrs remaining on 10 yr term; $140,000 payout penalty (which is why seller wants mortgage to be assumed)2014 Revenue: $119,926Expenses: $78,294 ($37,593 in repairs/maintenance)NOI: $41,6322015 Revenue: $129,727Expenses: $127,815 ($83,181 in repairs/maintenance)NOI: $1,9122014/2015 maintenance and expenses are inflated due to renovations (windows, metal roof, flooring in common area, some upgrades to suites)I am very new to buying buildings and have only been the money partner in the past.  

I'm going to use Conventional loan to cover 75% of the property and I'd like to find a private lender to cover the remaining, if not most of the cost.

If you are under water you can take out a small loan from a credit union for the remaining balance.

I find all tenants in the low rent arena, SEC 8 or Non-SEC 8, requires much tighter rein to ensure they remain current and in compliance with the lease terms.

What questions remain unanswered if you can't answer.

Haven’t received a bite yet, but remaining hopeful. 

The remaining ~40% into industrial assets including self storage and cold storage, existing and ground up development.I would deploy the capital as soon as proper due diligence can be conducted on multiple sponsors in multiple geographic regions, the sooner the better.I would also meet with my attorney, financial advisor and CPA to discuss the proper investment vehicle to use (LLC, Trust, Individual, etc) and to review opportunities and sponsors. 

However, they remain a source for off market deals and sometimes quite attractive ones.

My point is; I have a lot of experience when it comes to hiring workers with experience and when I look back at the 48+ years I've been in business I never every hire a worker with experience who worked well, or who worked for my company for more than a few weeks because i always found that the workers who had experience working for other companies were looking for a job, in the first place, because they had serious issues (problems) where they were useless and not fit to work for my company.The only workers who ever worked for my company and remained for as long as 40 years were the workers who started when they were about 18-years old and the workers who worked with me for 1 to 4 years because I taught those workers exactly how to do what I needed them to do and I taught them how to be excellent workers.Example.

.), because many would prefer to remain in North Arlington (north of the 50) because the schools are perceived as higher rated.