Deal in Escrow, pre-foreclosure/ss: Here is your lending or equity partner opportunity:
Arizona, two story red brick 27 unit apt bldg (-C rehab/repositioning to a B)
11 Cap
1.8 DCR
8% preferred Return during holding period (16% cash on cash return potential)
$350,000 for a 40% Equity position
*
+/-$1,250,000 Resale Price (within 24 months from rehab/$50mo. rent increases selling at a 7 Cap)
+/-$700,000 Acquisition Price
+/-$550,000 gross profit from resale.
*
40% equity partner = +/-$630,000 potential
($350,000 + $220,000 + 8% preferred return during holding period)
First position lien Debt Partner,$700,000, @ 7% amt 30 call in 24 months.
Any suggestions on where i might look as to who may be looking to be an equity or debt partner?