Mini Storage deal

T

toy

0
Registered
#1
Mar 12, 2009
12
0
0
Vancouver
#1
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

antaynguy

0
REIN Member
#2
Mar 3, 2011
104
0
16
#2
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
 
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