REAL ESTATE DEAL OF THE MONTH! – DON’T MISS THIS ONE!!!!

I am REALLY PROUD of myself for negotiating THIS DEAL!!  😀 

When was the last time YOU made 34.93% ANNUAL INTEREST on YOUR MONEY!


You can use your 401K and IRA money for this one and have the profits grow tax-free!!!!! 

I just negotiated the following deal to purchase this nice 94% occupied 18 unit Apartment Complex in Virginia!!!!!  Total of 2 buildings on 8 acres of land!!!!

Owner has CONSTURCTION PLANS for the undeveloped acreage already drawn up!!!!!!!


The 18-Unit Apartment located at 10624 Greensboro Road, Ridgeway, VA 24148.

is also UNDER CONTRACT with the following terms:

PURCHASE PRICE = $600,000

A. Down Payment = $60,000
B. Earnest Money Deposit = $500
C. Seller Financing on $540,000 @7.0% amortized over 30 years due in 15 years.  Monthly payment = $ 3,592.63  No Payments for 3 months
E.  30-Day Due Diligence Period beginning, December 10, 2009

PROPERTY FINANCIAL SUMMARY:

CURRENT INCOME = $67,560/year ($5,630/month)

CURRENT EXPENSES = $8,495.55 PER YEAR!  ($707.96 /month)
ANNUAL NOI = $59,064 ($4,922/month)

CAP RATE = 9.84%

Occupancy = 93%

OUT-OF-POCKET ACQUISITION COSTS FOR BUYER(S)

DOWN PAYMENT  =  $60,000
ASSIGNMENT FEE = $10,000
_____________________________
TOTAL               = $70,000

MONTHLY DEBT SERVICE = $3,592.63
MONTHLY NET/NET INCOME = $2037.37
ANNUAL NET/NET INCOME = $24,448.44


CASH ON CASH RETURN = 34.93%    (i.e. you will make your initial investment back in 2.86 YEARS!)

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