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Patrick O'Flaherty
- Male
- Riverside, IA
- United States
- Riverside, IA
- Blog Posts
- Discussions (2)
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Patrick O'Flaherty's Discussions
Exclusive Portfolios of Distressed Properties Available
3 Replies
Attn: Buyers & Buyer Rep’s,I have teamed up with a Licensed Commercial & Residential Real Estate Broker to provide a source of distressed properties with established relationships from over…Continue
Tags: properties, commercial, residential, assets, distressed
Started this discussion. Last reply by Carla Mack Oct 14, 2014.
Patrick O'Flaherty's Page
Profile Information
- Location (City, State) (Province, Country)
- Riverside, IA
- A Bit About Me
- In addition to my real estate efforts, I have a small personal training studio in my garage. Weights and Sprints have been a part of my active lifestyle for many years.
Will eventually become involved with residential redevelopment but in Iowa, the available inventory of viable homes is very scarce. So may have to relocate to achieve this goal.
- Which Best Describes You? (Pick All That Apply)
- Other (see below)
- What Do You Need
- Large Multi-Family Properties with the Following Conditions and Criterion:
• You Must be the Seller or Direct to the Seller; No Daisy Chains (I've Already Lost 2 Deals Due to This)
• Off-Market or Pocket Listings Only; Nothing Listed Currently or Within 2 Years on Loopnet or Similar Website; Possible Exception for Seller Representation by a Commercial RE Agent / Broker (Case by Case Basis) But Must Adhere to Above Tenet.
• Seller Should be Truly Motivated with an Urgent Need to Sell
• Newly Available, Not Old Leftovers That Have Been Circulating for Months That No One Wants
• Any Major Metro Area in These States: AZ, CA, CO, MO, NC, OR, SC, TX, VA, WA
• Max Price of 60% FMV or Lower or as a Frame of Reference, Approximately $20K to $25K Price per Unit for a Semi-Stabilized 30 to 40+ Year Old Class C Property and $10K to $15K for a Value-Add Class C Property of Similar Age
• Actual CAP Rate (Not Proforma) Typically ~ 10% to 15% +/- Range Depending on These Other Variables
• Minimum 100 Units per Property
• Occupancy > 25% Preferably > 50%
• Class A, B or C
• Solid Working Class or More Affluent Neighborhoods; No Ghetto's or War Zones
• No Section 8 Tenants
• Built 1975 or 1980 or Newer Depending on Market
• Tenants Pay All Utilities
- What Do You Offer
- I source and pre-screen properties for one cash buyer
I want to re-launch a commercial down payment assistance (DPA) program. I have the DPA funding in place and a commercial loan broker with willing lenders. Seeking my first buyer to participate in this.
- LinkedIn, Twitter, Facebook, Skype Address
- https://www.linkedin.com/profile/view?id=69370554&trk=nav_respo...
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Thanks for getting back to me Patrick, I appreciate it. Understood, if some of deals you come across need permanent or bridge funding to close feel free to reach out. As mentioned, we can be aggressive in those markets on all class and vintage types for multifamily. I will look forward to possible working with you.
Kristian P. Molloy
Mortgage Banking
100 Church Street, 15th Floor | New York, NY 10007
T 212-317-5749 | C 908-507-0237
kmolloy@centerline.com | www.centerline.com
http://www.linkedin.com/in/kristianmolloy
Patrick,
Hope all is well. I came across your profile and wanted to find out a little bit more about what you do in the multi-family space. My company specializes in providing debt financing for multi-family properties nationwide and we are very competitive in a lot of the markets that you mentioned above. Feel free to reach out when you have a chance.
Best,
Kristian P. Molloy
Mortgage Banking
100 Church Street, 15th Floor | New York, NY 10007
T 212-317-5749 | C 908-507-0237
kmolloy@centerline.com | www.centerline.com
http://www.linkedin.com/in/kristianmolloy