I am a seasoned developer that specializes in purchasing, renovating, and refinancing apartments for the long term. I have excellent personal and business credit, 3 yrs financials,3yrs business and personal tax returns, multifamily experience. I currently own $4.5M in apartments but equity is tied up. I have the cash flow to service a $10K plus note if need be. Looking for partners who have the down payment but maybe can't get financing because of credit or documentation issues. Together under a new LLC, we are a solid borrower. IRA's, 401K's, and other retirement accounts work well for these types of transactions. I am excellent with accounting, cash flow analysis, due diligence, construction, lease up, and property management. I especially shine in making sure the accounting books are setup correctly from day 1 separating the property expenses from the management company expenses so as to not underwrite unnecessary expenses upon refinancing. If your financials don't tie to your tax returns it will kill all hopes of refinancing leaving you stuck in a high interest HM loan with a looming deadline. Newbies find themselves in this position all the time since accounting is the last thing on their minds let alone knowing how to do it specifically for apartments, lol.
Did you know that a 2BR apartment is renting for as much as $1,100 in New Orleans. On top of that, the rents are subsidized which means they are direct deposited on the 1st of the month. The tenants are kept in line by the constant threat of being kicked off this wonderful program if they're ever evicted for any reason. If you know apartments then you know those rents are twice what the rest of the country is getting which means that the value of any property you own there just doubled too. With the right partner, we can put into place $200K p/mo NET CASH FLOW that shows up every 30 days rain or shine or hurricane. The best part about it is that your cash investment will remain in tact and be paid off the top if the property is ever sold or refinanced. The monthly cash flow you receive in the meantime is simply pure profit.
If this sounds interesting to you let me know. I already have apartments picked out and waiting to be bought. Alls I need you to do is prove you have the funds and commit those funds in writing. They'll remain in your bank account until the day we close. You bring them to the title company with you, sign your trust deed and we're the proud owners of a cash cow. Sounds simple hunh....then why do so many people complicate this very simple process?
I not only represent a fund, the owner of the fund is a personal friend that has allow me to market and underwrite their program; first this is not a line of credit or an joint venture with a 50/50 split. This nationwide program is a swift solution (3-5 day to fund) for real estate investors with no advance fees to worry about. Thank you, I welcome working with you.
Lending for Real Estate Investors Nationwide (Short Sales, REOs, Auctions)
Resume, 1003, Breakdown of the rehab, recent appraisal or BPO or comps
Have a Powerful Day
George R. Mallory,
VP of Finance, Underwriter