Here’s an interesting one from Connecticut:
I have a person looking to purchase a 42 unit SRO building that they have managed for 2 years for the present owner. Buyer is a licensed realtor and well connected in the local market with shelters, counselors and law enforcement. They are 95% occupied with steady cash flow. The LTV will be 50% or less. Purchase price about 600K so a 300K first mortgage. Other property available for cross collateralization. Interested?
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