Description

JUST ACQUIRED:

7-UNITS MULTIFAMILY, UNDER REHAB. LOOKING TO TAKE A PARTNER FOR 50% OWNERSHIP AT $110,000 PURCHASE PRICE FOR 50% EQUITY IN PROPERTY. PROPERTY WILL BE REHABBED WITH TOTAL COST INCLUDING REHAB COSTS AT $220,000. PROJECTED RENT ROLL AFTER REHAB WILL BE $3,650/ MONTH. AFTER REPAIR VALUE OF PROPERTY WILL BE $365,000. EXIT STRATEGY IS TO SELL THE PROPERTY AFTER 100% LEASE AT $350,000. BOTH PARTIES WILL SPLIT SALES PROCEED 50/50. EXPECT TO REHAB, RENT, AND SELL PROPERTY WITHIN 8-MONTHS. BOTH PARTIES WILL SPLIT POSITIVE CASH FLOW ON PROPERTY UNTIL SOLD. BOTH PARTIES WILL SPLIT OPERATIONAL COSTS UNTIL SOLD.

7-UNITS: (6-UNITS ARE 1 BEDROOM, 2-BATHS, RENT PROJECTION $500/ MONTH), (1-UNIT IS 2-BEDROOM, 2-BATH, RENT PROJECTION IS $650/ MONTH).