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What’s the new ITRA manager salary at EY in NYC?
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Thoughts on Fundrise?
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Solid deal, looking for a partner to provide additional $$?
Depends on your DSCR
Stabilized it will be over 1.5x. In place is 0.9x because the contractor garage space is currently vacant.
On a self storage property? Sounds like this is a commercial property and not a home so yes 6.25 is good. As long as you agree to the 10 floating years because that is kind of gambling. Did you explore a fixed rate option already?
Another lender will do a 10 year fixed option at 6.40% but LTV is 75% but 25% down is starting to push it for me. More comfortable at 80%.
Yes, that’s a good deal. We are trying to underwrite every deal to a seven handle.
At 7.00% interest, it still checks out to about a 15% cash on cash return.
I don’t know to be honest. I’m on the fence about partners. I’ve heard compelling arguments on both sides whether to partner or not. I don’t necessarily need funds for this deal (purchase price is under $700k), but it could be nice to not put all eggs in one basket.