For Sale or JV

[Nelson L. Bruce]

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).