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So nice to hear from you. Yes I am involved with Austin real estate. I am not surprised you are shopping for homes right now as our values here in Texas have never fluctuated yet there is a much smaller buyer pool in the wholesale and retail real estate market. Less competition means better deals for you and I.

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What kind of capital are you working with? I just put together a loan assumption with Citi Bank for $2,901,000 on Spring Gardens apartment complex worth $4,500,000 +. A multi family investor put up the capital and he and I partnered 50/50 on Spring Gardens. We paid 1% assumption fee along with $25,000 in taxes/closing and es-crowed $40,000. This investor had 500 units before this purchase and asked me to partner with him on all multi-familes going forward and I accepted. Now our goal is to purchase 100 units (minimum) every 60 days because many sellers in this arena are liquidating assets to cover losses in other parts of their portfolios. Banks need to get defaulting loans of their books yada yada you know this story...

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Right now I am putting together $1,500,000 for deals like the one with Citi. I have a fantastic Houston deal worth $10,000,000 after occupancy brought up, rent increased, etc etc.. that I believe I will get for $5,000,000 or less. I have analyzed 2 dozen multi-family deals per week for the past 2 months and this one is the best. Also, I have an Austin deal we can get for $28,000 per door- dirt cheap for Austin. They are asking $5,800,000 and my girl there is a rock star so she's gotten them down to $4,900,000 but I will have to secure at $4,500,000 for it to be a money maker from day 1. Melissa will get them down to 4.5 soon.

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Here is the scoop:

My partner has a sterling track record and an average of 96% occupancy at his properties. The Spring Gardens deal is going to profit roughly $20,000 per month (after maintenance/expenses) within the first 3 months of purchase. My partner is going to receive $100,000 in cash flow for his first year and $55,000 of capital (excluding 40k escrow) he put in. The investment package we offer involves no managing of the properties and a 100% minimum return on cash over 2 year period. We require $250,000 minimum investment for 2 years and if you understand apartments you will see how this is possible once you and I go over the details. The $1,500,000 in capital I am raising can be leveraged to multiple properties for which our capital investor(s) will receive 50% of the profit. So if you put up the $1,500,000 in cash your self and I leverage it to buy 3 properties you will own half of those 3 properties equity/profit wise. The other option is to be mezzanine debt in which case instead of being a 50% owner of the LLC we create for your investments with us you will be a second lien holder to my partner and I. For this you receive a monthly interest only payment and 50% of the profit on the resale or refinance when we cash you out.

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I know this is a lot so please call me at the number below for clarification and additional info. Yes I have plenty of boring less profitable Austin flips;) or rentals if multi-families are not your cup.

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Steven Johnson
Cash Offers Today
5644 Westheimer, #510
Houston, TX 77056-4002
713-598-9690 (ph. number)
888-574-4351 (fax number)