TITLE:
Midwest Long Term Rental Portfolio Discount Sale Lease Back
CONTROL:
Owner
VALUE:
$1,220,000
LOAN:
$855,000
EQUITY:
$365,000
TYPE:
Homes/Condos
HAVE:
I have 6 properties 100% rented with operations all in place. These are by Champaign, IL where University of Illinois is located and I plan to hold these forever. The houses range from $100,000 - $275,000 that I'm willing to split up in packages.
ADDRESS:
1807 Sangamon, Champaign, Illinois
BENEFITS TO NEW OWNER:
Safety of margin 72% LTV total portfolio in A/B class area with asset mix.
GROSS SCHEDULED INCOME:
$126,000 Actual
VACANCY LOSS:
$7,560
GROSS EFFECTIVE INCOME:
$118,440
EXPENSES:
$51,000
NOI:
$67,440
DEBT SERVICE:
$54,000
CASH FLOW:
$13,440
CAP RATE:
5.53%
BENEFITS SOUGHT:
Debt consolidation
CAN ADD:
Free and clear land, SFR rentals, RVs, RV park and mobile home park consulting.
REMARKS:
$67,000 NOI and sell for the EXISTING debt $855,000 which translates to around 8 cap rate. Could also do 1st position to swap out my existing investor on a 12 month note.
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062
Email quentin@mcnewcapital.com
