I am looking to purchase 8 fully occupied rental properties in Cleveland OH.  I have it under contract for $320k and the GOI is $72,360 and the NOI is $40,939 a year which gives it a cap rate at 22%.  The value of this package is stated at $404,400.  I am looking for a total of $361k as a JV or just a loan which includes closing costs and rehab costs.  The portfolio is producing and my credit score is between a 670-680 so I maybe able to refinance earlier probably within 6-12 months to repay back the loan or equity partner, I just don't have the income history with my business.  I have attached my 5-year Pro-Forma on these.  I can also send pictures of this portfolio if needed which will also show the values and details of the structure of each property.  If you are a buyer and interested in just purchasing them instead of JV or financing, you can buy my right to purchase for 4% of the sales price ($12,800).

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Interesting,, so i guess we will pass on this deal 

Kathleen Smith

Harbour Equity Partners
Private Client Services, LLC

Admin Assist.  | Private Banking and Client Services

NY Office    631-757-9700

Fax.              631-991-9142
Email.    Info@SuperJumboLoans.Info     

Nelson -

Do you know what the estimated after-repaired value is when you are done rehabbing?  That will be the key, although most lenders will shy away from anyone who isn't putting any cash down. No "skin in the game".

Rich Coppage
Vice President, Cressida Capital
8939 S. Sepulveda Blvd.
Suite 102
Los Angeles, CA 90045
O: 213.784.2784 x1004
M: 480.215.9909 
F: 480.269.9805
E: richc@cressidacapital.com
www.CressidaCapital.com
www.cressidacapital.com/category/closed-deals/

The ARV is $404k. I can put about $10-20k into the deal.

Based on your numbers, I would suspect that the ARV would only support a loan of about $260k.  Not enough upside for a lender. You would need to come up with the other $60k. 

Rich Coppage
Vice President, Cressida Capital
8939 S. Sepulveda Blvd.
Suite 102
Los Angeles, CA 90045
O: 213.784.2784 x1004
M: 480.215.9909 
F: 480.269.9805
E: richc@cressidacapital.com
www.CressidaCapital.com
www.cressidacapital.com/category/closed-deals/

I am interested in your loan request, but I will like to talk to you to get some more info.

Mr. Lovence,

I would be interested in speaking with you in regards to my loan request, I can be reached at the e-mail address below..

I look forward to hearing from you soon.

Kevin Rizzo

creillc@comcast.net

Hi Shawn same to you and yours , can you call me at your earliest convenience.

Wayne Bollers 

Office--1-866-611-7608

Direct--1-404-202-4759

Email--wayne@rockstonefunding.com

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