(Partner Needed) — Birmingham 8-Unit Seller Finance
I’m working a seller-financed 8-unit in Birmingham, AL and I’m looking for a capital partner to cover the $87,000 down payment (15%) so we can lock this in and close. Deal Terms - Purchase: $580,000 - Down payment needed: $87,000 - Seller note: $493,000 @ 6% fixed - 24 months interest-only, then 30-year amortization - 7-year balloon - Target close: ~3 weeks once we’re under contract Income (Now vs. Upside) - Current gross income: ~$86,028/yr (~$7,169/mo) - Target gross income: ~$93,600/yr (~$7,800/mo) by bringing avg rents to ~$975/unit Conservative cash flow (today) - Conservative NOI: ~$4,081/mo - Debt service (6% IO): ~$2,465/mo - Cash flow after debt: ~$1,616/mo (~$19.4k/yr) Structure (simple) I’m willing to give the capital partner 70% of cash flow/profits until their capital is returned. If you’re interested, DM me