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Kevin, I work with the principle that buys Multi Family in TX I can provide you with a list of properties they have purchased since 2003 this could be right in their niche.
Are all those units occupied?
Repositioning Leroy. 55% +/- occupancy. Currently in Bankruptcy. Needs by our construction bids $1.2M in rehab. Principal has 100 units 8 blocks up the street running 97% occupancy since it's been rehabbed.
Opportunity with the last turn-around in that area - 211 acres (largest contiguous land parcel in Dallas) is 2 blocks over. New projects in there are not affordable to this demographic so this one will be leased with best of that demographic for years and years at high occupancy. Great upside: FHA permanent (after rehab) with 83% LTV, @ 4%+/-, 35 years generates SIX figure NOI and returns all acquisition and repair costs with cash out. Figure 18 month turn-around as seasoning is 6 months stabilization for FHA and the NOI is six figures per year with no money in it.
If you're interested, please send email to KKeithley@PrimeVest.us as requested in the post.
Thank you Leroy.
Do you need to sell this property? I'm just trying to get a clear understanding. I might be able to help, are you looking for a buyer, or looking to sell? And if I match you up with one of my connection, do you have a finders fee that you will pay?
I am a RE Broker in the Dallas area and I have a client that is looking for a apartment projects like this. If you would email me all the info on the property I will see if I can get to work.
So he,s looking for a building like it, well how much is
is looking for to get him started? If I'm understand what
Since it is after the 23rd, is it still available? Are you direct?