Seeking Apartment Funding

[Dustin Rose]

I'm seeking apartment funding for a 398 unit complex. Details below

398 Unit complex being sold for 4.4 million or $11,000 per door

 

Property 100% vacant

 

After purchase property renovation will cost 2-2.6 million

 

Net cash flow after 80% occupied $1,596,000 per year

 

Resale property at a 10% cap at 80% occupancy for $15,960,000

 

Property History

 

Owner passed away

 

Son was willed property and had no interest in running the business

 

Son kept property while cash flow was rolling in. As maintenance issues and vacancy issues came up he ignored them

 

Son sold property at 50% occupancy to Australian investor

 

Australian investor made no improvements and collected cash flow until 20% of property was occupied

 

Australian investor sold property to Dr. Alan Kwan in Singapore in Dec. 2012

 

Dr. Kwan started renovation but due to busy schedule was unable to perform( secured property with security gate)

 

Dr. Kwan is now selling property

 

Investment Details

 

$4.4 million dollar purchase

 

$2.6 million dollar renovation ( roof, hvac, paint, electrical, paint, appliances, plumbing, drywall, fixtures) Per General contractors bids

 

4.4 million plus 2.6 million= 7 million

 

398 units x 80 % occupancy = 320

 

320 units x $650 average rent = $208,000 monthly cash flow

 

$208,000 x 12 = $2,496,000 annual gross income @ 80 % occupancy

 

$900,000 annual expenses ( advertising, insurance, maintenance, payroll, taxes, telephone, utilities)

 

$2,496,000 minus $900,000= $1,596,000 net annual income

 

To sale at 10% cap rate = $15,960,000

 

Projected time frame 12-24 months

 

[Leonel Guzman]

My name is Leonel Guzman. I have plenty of money to lend. Reach me at [e-mail] if interested. We'll just need an executive summary of your project in order to make the loan. Hope to hear from you soon.

[Samuel Thomas]

Send me details and your phone number to [e-mail]

Would like to set up a conference call with the President of our company and myself to discuss funding

of your project.  You can review our website at www.trustlender.com

We are a direct lender.

Thanks

Sam Thomas

[phone]

[Vernon gene]

GET THE LOAN YOU NEED ASP!!!
GET BACK AT ME AS SOON AS YOU CAN FOR MORE DETAILS.
FORWARD ALL INQUIRIES TO THE EMAIL ADDRESS BELOW.

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regards:

MR.Vernon Gene