Andrew Ikeda 0 Report post Posted March 7, 2004 Greetings Everyone, I have this awesome opportunity to buy a 21 unit apartment complex for $680,000 and the owner told me that if I can cash him out at that price, he would include a duplex that needs about $18,000 in repairs. The 21 units gross rent is $9,000/month and maintenance, water, garbage, taxes, etc. combine for around $1100/month! No Kidding! I personally saw the rental agreements and the owner/sellers tax returns. Units cashflow and meet most lenders' 1.20 DCR. What I need is a partner or someone to help me out with around $80,000. I have contacted all the Commercial lenders that I could and they all turned me down and want to see some sort of cash from the buyer. I have everything but the cash. Ideally, I'd like to get some hard money on a one year contract for 8-11% or whatever does not turn "upside down" on the numbers. If anyone is interested in partnering up with me on this deal please dont hesitate to contact me a.s.a.p for more details on the property. Thank you. Andrew Ikeda (Mortgage/Investment Specialist) US Funding Group, Inc. 888-889-1640 Ext 220 andrew.ikeda@usfundinggrp.com and/or andikeda@netscape.net Share this post Link to post Share on other sites
