I have funding lined up to purchase a 4 star hotel suite in Texas. Property is running at a 22% cap currently. I am looking for a capital investor to provide a down payment of $3.2M which is 25% of the purchase price and in return they will receive 42% ownership interest to protect their funds until I refinance or sell to pay the investor back within a period of 3-5 years. If you have the $3.2M and just want to invest in this for yourself, I can get you connected with the lender to purchase. For more information you will be required to sign a NCND agreement and paying a 4% consulting fee at closing if you want to purchase without the JV. If you are interested or have someone who is interested please get in touch with me as soon as possible as this deal will not last long.
How much cash are you bringing to the table?
I have the credit to get approved for a loan but not the down payment amount which is why I am advertising for a capital investor. In return the seller will be getting a great return and investment opportunity for investing with me on this project. If the investor doesn't feel comfortable with me not putting any funds into the loan a special stipulation can also be put in place stating I have such and such time to refinance and payout the investor or they would have 100% control of the property and the income the property is producing. If they would want to pursue this investment without a partnership then they would have to payout a 4% commission at closing
Can you send me your NCND, as well as the estimated Proforma
I just sent you an email with the NCND attached. Once I receive this back signed I will sent you more information including the financials. Thanks!