Looking for a partner with capital

**ice45x** · 02-11-2009 08:51 PM

I have the knowledge, experience, and the product, but I'm lacking capital. I have two options to explore with anyone interested. First I have a property that in NY that is in a great location, high return, and seller is highly motivated. I believe we can get the property for a high cap rate I just need capital for the down payment, I have already arranged the lender (with a low interest rate 5.5% - 6%). I believe this is a lucrative offer and would be more than happy to discuss this further with anyone interested. I also have a few foreclosure opportunies in great areas, for .50 cents on the dollar. And with small down payments we can acquire them, fix them up, and rent them out for a lucrative return. Feel free to contact me if you have questions or are interested.

**jayer** · 02-11-2009 08:53 PM

Don't know what kind of property this is, but I would love to get 5.5% to 6% on a commercial loan for investment properties.

Where in NY is this first property and what type of property is it?

**ice45x** · 02-11-2009 09:09 PM

The property is located on Long Island NY, it is a multi-family property.

**jayer** · 02-11-2009 09:25 PM

Well how substantial of a down payment are we talking?

**ice45x** · 02-11-2009 09:27 PM

$400,000 to $500,000

**jayer** · 02-11-2009 09:36 PM

Oh I see... well that is quite out of my ball park. Hope the multi-part means lots and lots of units at that price. Good luck on your search.

**ice45x** · 02-11-2009 09:41 PM

It does have many units, I also have another opportunity I'm working on, but it's a little more risky, that is why I didn't mention it, which is cheaper though. It's 3 apartments and 3 store fronts, great location. 3 apartments are section8, so guaranteed rent. 1 storefront rented. 2 storefronts vacant, but the catch here is, the price factors in this loss, and I believe we can get a positive cash flow from the beginning, so the 2 store fronts filled, will become profit. So we simply accept a little below rent offers to fill in these vacancies and we are looking at a profitable return. The risk though is filling those 2 storefronts, if we do not, the return is much lower. Let me know. This down payment would be probably $150,00 - $350,000 depending on what I can get the seller down to.

**ice45x** · 02-11-2009 09:43 PM

If your interested in working on something, I would be more than happy to chat with you further in more detail and as many opportunities I can find. Because I'm dependent upon finding someone with capital, so I would be more than happy to share all of my ideas to find something that you might like.