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Looking to buy multi-family properties

Started by halseyllc
over 15 years ago
Posts: 1
Member since: Apr 2009
Discussion about
I am looking to buy multi family income producing properties in brooklyn, queens and lower manhattan Let me know if you have access to any of the following: 1) Do you have access to market or off market deals that are +8% return? 2) Do you have access to people who would be willing to invest? Thanks in advance for your help.
Response by bugelrex
over 15 years ago
Posts: 499
Member since: Apr 2007

yes

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Response by Apt_Boy
over 15 years ago
Posts: 675
Member since: Apr 2008

Are you looking for a hard money lender to close deals fast and then pay-off with traditional financing?

Current terms are (approx): 14% rate, 4 points, 6 month term with 2 90 day extensions. max ltv's of 75%-80%, closings in 5-10 days

If this fits for you, respond here with an email and I will be in touch.

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Response by freewilly
over 15 years ago
Posts: 229
Member since: Sep 2008

lol

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Response by nyc10023
over 15 years ago
Posts: 7614
Member since: Nov 2008

Sure, I'll be your hard money lender too. Same deal as Apt_B, but I'll lend at 12%.

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Response by MAV
over 15 years ago
Posts: 502
Member since: Sep 2007

Are you saying you are looking to buy, and also looking for equity partners?

You are not going to get anything in Manhattan with an 8% return anymore. Not in the OBs either, and the more "Outer" you get, the more experience you should have, imo. What price range are we talking here?

Are you looking to manage too, or outsource that?

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Response by alanhart
over 15 years ago
Posts: 12397
Member since: Feb 2007

Try Vegas, and you can take that suggestion either of the two ways in can be meant.

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Response by e76
over 15 years ago
Posts: 226
Member since: May 2009

yes. and start with loopnet.

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Response by vic64
over 15 years ago
Posts: 351
Member since: Mar 2010

You may still find good deal in Sunset Park Brooklyn. My friend bought a 6 apartment building there last year for $500K. Since it was bought in cash, they are getting near 8% return.

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