cjpmary


All About cjpmary

Name: 
Mary Gaines
Location: 
Bloomington, MN
About Me: 

I thrive in business development, nonprofit management, certified property management & real estate investing. I contribute much time in the nonprofit & community arena as an advisory board member of several national and local memberships.

Interests: 
My interests are being a life long student, research geek, video/photographer, music and creating wealth to teach others

Topics I've Participated In

TitlePosterRepliesUpdated
YAHOO!!! WE HAVE OUR FIRST ACCEPTED OFFER!!! 5H Enterprises10914 years 42 weeks ago
Commercial Real Estate Market ddowd314 years 43 weeks ago
Critique my page TRH1215 years 1 week ago
I'll Pay YOU A % To Find Me A Buyer! LJKInvestments515 years 2 weeks ago

Basic Info

Occupation: 
Property Developer/Investor
Children: 
Have Child(ren)
Education: 
Some College
Status: 
Divorced

Sites I Visit

Mainly Just This One

Guestbook

NLV?

RyanM's picture

Hi Mary -
Did anyone help you sort out your North LV opportunity? I live in San Diego, but just moved from LV - still have contacts there and am happy to drive up there (I have family there).

I hope all is well!
Ryan
[edit: please do not post emails or phone numbers]

NLV

No, I did not get any help in that area. I'm working on putting together a team there, but I have a lot to do before that. I will keep in touch with you. Thanks for wanting to assist me.

Need Help: Multi-Housing Opportunity

I have a great opportunity for an individual to assist me in seeking additional investors and/or work with me on positioning a purchase for a multi-unit apt complex that consists of 300 apartments. The owner is looking to sell at $23 million. The debt is assumable with a $3 million down-payment.
Cash to assumption on original loan amount of $18,750.000. Interest rate 5.62%. the NOI in 2008 was $1,236,482.00 and the cash flow was $182,732.00. The investor has not managed it well and have a high vacancy rate. I can utilize my property management team who can operate it more efficiently, bring it to full vacancy and improve its numbers.
My team of managers has experience in managing properties of this size. I would like to position this as a joint venture partnership with investors and myself which will allow me to have a percentage of ownership within the property and also handle the management of the property.
As ddowd stated in his article that we must approach properties with creative open minds and I’ve been studying all my materials of Dean Graziosi and could not afford a DG coach at this time. I want to move forward with this opportunity. I refuse to give up on this opportunity due to lack of knowledge, bigger numbers and fear.
I have submitted an offer to them and have 2 investors interested in the opportunity as joint partners. But I still need help on how to present this opportunity for more investors for a complete close.
Who can assist me in this joint venture?
How many investors should I pull together to reach the 3 million?
How can I arrange the financing combination so that I can do 100%?
Should I look at positioning this purchase, with a combination of many private investors to lower the amount of cash needed for each partner?
Should I look at hard money lenders because of the amount?
I need help on this one and is open to individuals who can help me and we can be creative regarding your fee to bring this opportunity to a closed deal.I will appreciate any and all comments. Thank you ddowd for your information on commercial real estate markets, it inspired me to ask for help because I'm stuck.
•Please feel free to email me at email address [edit: please do not post emails or phone numbers]