I curently have an off market deal on a 92 unit, all brick, multifamily property is Georgia. Current acquisition price is 65% of ARV ($2,450,000 vs. $3,750,000) and a 16% CAP.Property don't have any…Continue
Looking for private investors/direct lenders interested in participating in the financing of the acquisition/rehabbing of an apartment building in the Palm Bay, Fl area.Property is bank owned (REO)…Continue
Through our company SanMagAcquisitions.com, we buy, fix and refinance REO and distressed apartment buildings for long term hold in our portfolio.Our purchase criteria and LTV is always 65% or less of…Continue
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Recently I posted in various websites, about an apartment building deal, that could be acquired for under 65% of it's ARV.
Those who received the financial analysis should have seen that, the ARV of the property was determined based on rents lower than the average market rate (therefore a very conservative NOI), estimated repairs were overstated to reflect a "worst case scenario" and cover possible overage, CAP rate was 18% at acquisition and, the cash on cash was way over 10% after…Continue
Looking for private investors/direct lenders interested in participating in the financing of the acquisition/rehabbing of an apartment building in the Palm Bay, Fl area.
Property is bank owned (REO) and can be acquired for 58% of it's ARV value ($698K), including repairs. Total investment comes to $420K and I'm offering 10%, interest only ROI, 12-24 months term.
Rehab work is a complete "gut" job in order to bring units to above average standards for the area. ARV however is…Continue