OfflineHello to Everyone:
Here is an example of a actual, live deal. It's a apartment community in Houston, TX:
Cypress Ridge, 268 Units, NW Houston, 100% Lender Financing, $3,100,000.00
268 units, asking $3,100,000 or $11,567/unit. In a receivership and the lender will reduce the $6,000,000 loan down to the sales price.
So there is 100% financing on the acquisition. Buyer pays 5% closing costs, rehab and carry to breakeven escrow at closing.
Seller will slightly discount for all cash offers!
People here have sent me PM's asking to see some of the deals I see on a daily basis. Above is just one of the many.
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This place is full of crack heads, drug dealers, mexican gangs, Latin Kings and MS13 who have fights right outside. Shooting eachother, and more
Read more: http://www.apartmentratings.com/rate/TX-Houston-Cypress-Ridge-Apartments...
Not for the novice investor......considering 35% occupancy and $40k/month negative cash flow