Mini Storage deal

[toy]

Hi,

Just need some advise on a mini storage deal I`ve been looking at in the US:

$600,000 List

I got them to $425,000 which will make it about 11% cap.

So here is how I want to structure it:

$600,000 purchase

$390,000 down (65% LTV)

$225,000 VTB 5 Year NI NP

12 month - $175,000 discount
24 month - $100,000 discount
36 month - $50,000 discount

Already talked to bank and they will do 65% LTV and 1.25 DSCR and we are well within that.

If anyone has been to Ron`s Commercial conference, this is pretty much how it would be structure. Anyone seeing this type of structure having problems getting financed in the real world? More specifically how is the bank going to look at the $225,000 VTB?

Thanks,

Tony Chu

 

[antaynguy]

QUOTE (toy @ Feb 25 2010, 05:35 PM) Hi,

Just need some advise on a mini storage deal I`ve been looking at in the US:

$600,000 List

I got them to $425,000 which will make it about 11% cap.

So here is how I want to structure it:

$600,000 purchase

$390,000 down (65% LTV)

$225,000 VTB 5 Year NI NP

12 month - $175,000 discount
24 month - $100,000 discount
36 month - $50,000 discount

Already talked to bank and they will do 65% LTV and 1.25 DSCR and we are well within that.

If anyone has been to Ron`s Commercial conference, this is pretty much how it would be structure. Anyone seeing this type of structure having problems getting financed in the real world? More specifically how is the bank going to look at the $225,000 VTB?

Thanks,

Tony Chu

Hi Tony,

email me and I will explain to you how to structure this.
You will net about 190000 in your pocket on closing without using any money down.

Cheers!

Antay

 

[amurthy]

Hi Antay,
I`d also be interested in knowing your thoughts on structuring this deal. Would you mind if I wrote to you in person?
Thanks & regards,
Anand Murthy

 

[Emmett]

Hi,

I have access to some pretty good private money for Mini Storage facilities in the US. No money down deals are possible. Shoot me a note if you are interested.

Emmett