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No, not me, but you should be if you're not calling me to find out how to get in on deals like this one! Any serious investor will quickly realize that deals like this do not come along very often. Quick summary of this deal is 38 units, 92% occupied, fully rebuilt in 1993, individual hot water and furnaces, individually metered gas and electricity, $375,000 purchase price, $100,000 in rehab (mostly window replacement), for a potential 31% cap rate at market rents!

"OK, what's the catch?" I hear you say. "There's always a catch". No, not really a catch, but there is a timing consideration.The building is currently rented out at below market rents, so it will take about a year to bring it up to market rents and realize its full potential. Even at its current rents it's still a 16% cap rate which is very attractive. I'll let you math whizzes figure out the NOI on that one.

So now I hear you asking "How do I get in on this fabulous investment opportunity?"to which I reply, "Sorry, its spoken for by a couple of rock stars." And I do literally mean rock stars. So how did these 2 lucky guys get the first crack at this property? Well, they were on our mailing list for starters. They had also filled out our Investor Questionnaire so we had their investment preferences on file and when this opportunity came up they were notified right away.

Opportunities like this don't happen every day, but when they do you need to be ready to pounce on them as they don't last long. Give us a call, drop us an email, get on our mailing list so we can keep you informed when these

 


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