Commercial Real Estate Investment

2/29/20 12:32PM

From: Ojomo Minott

To: Anyone willing to completely read this business proposal letter.

Subject: Commercial Investment Capital, 2674 US Highway 130, Cranbury, NJ 08512

To Whom It May Concern,

My name is Ojomo Minott. A 26 year old, African- American, self- taught aspiring Commercial Real Estate Investor. I am on this platform seeking capital investment funding in the amount of $211,000-$600,000. If I am not able to purchase a commercial property, I will purchase a residential one instead:

60% LTV

$590,976.40 Down Paymwnt

+44,323.23 Upfront Fees

=$635,299.63 Total Cost Of Loan

90% LTV

$147,744.10 Down Payment

+$66,485.85 Upfront Fees

=$211,228.95. Total Cost Of Loan

(Calculations are based off of the linked calculator website- 60% LTV- 90% LTV; loan to value.)

to go towards a hard money loan down payment through a private lender to secure financing for the purchase of 2674 US Highway 130, Cranbury, NJ 08512, a commercial retail property listed for $2,450,000 or another similar property. I have been self-teaching myself/ studying real estate (Residential/ Commercial) for 2 years since 8/6/18 by watching hundreds of hours of real estate videos on Youtube, reading hundreds of Real Estate articles, watching interviews, reading forums, etc. and have seen that this is the way (high risk, potentially high returns) for me to build generational wealth for me and my family, to be able to truly help others by donating to a various assortment of charity organizations who causes I respect once I've attained a high enough net worth to live a comfortable life and a passive income stream of at least $2000+/month. I will be providing FULL TRANSPARENCY to inspire reader confidence and trust. (no critical, private info)

I have become motivationallly obsessed with the idea of becoming a multi-millionaire/ wealthy.

I have a list of properties I am interested in potentially purchasing one day ranging from $1M-12M. I will start with this one then build up or if some crazy luck happens to come my way, scale upwards.

To further my credibility, I will be seeking the mentorship of Peter Harris, an experienced Commercial Real Estate Investor in the future when and if I can qualify for his Protege Program. I have been watching his Youtube Videos non-stop recently averaging. over 6 hours a days of content and taking PLENTY of notes. The information he has shared thus far is truly priceless in regards to anyone who would like to navigate the battlefield of Commercial Real Estate in my personal opinion. His book" Commercial Real Estate For Beginners" was truly monumental for me. I've read the whole book and it has given me great insight into this realm of Commercial Real Estate.

https://www.commercialpropertyadvisors.com/mobile/

Youtube channel: Commerical Property Advisors

Apparently, his channel is the #1 Youtube channel for Commercial Real Estate.

What I will do with the money:

Open a high yield saving account, deposit all money recieved until I can use it to purchase this commercial property or one similar to it. (estimated cash flow potential, NOI, etc.) Money will be also be used to resolve my personal debt to raise my credit score. Money will also be used to help cover some minor day to day expenses such as food.

This is a long term goal that I expect will take a VERY long time to complete. It will be done at my pace to ensure I am as thorough as possible.

I am NOT asking for a handout! I am seeking monetary help to raise investment capital to conduct business LEGALLY and become WEALTHY as a result of it in due time (many years from now).

Some personal details included only due to amount of money I am requesting. No one would give money to a complete stranger without some type of empathy.

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FULL TRANSPARENCY: All of my calculations pertaining to this deal will be included!

ESTIMATED AMOUNTS! ESTIMATE! ESTIMATED AMOUNTS! ESTIMATE!

ESTIMATED AMOUNTS! ESTIMATE! ESTIMATED AMOUNTS! ESTIMATE!

My numbers may be off and I don't have access to the seller's financials yet. (Income/expenses, NOI, cap rate etc.)

My Offer/Cash Flow ESTIMATED Analysis

Property: 2674 US Highway 130, Cranbury, NJ 08512

Listed: $2,450,000

https://www.crexi.com/properties/233972/new-jersey...

Estimation Assumptions:

12 months, 12% interest rate (hard money loan averages 12% to 16%)

20% down payment

NNN Leases

Add 5-10% earnest money

Add 6% closing costs

30 day due diligence

I need to have at least $30K-$80K earnest money deposit. (skin in the game)

Exit Strategy: To cash out refinance, get a conventional loan, lower my rate and monthly payments.

Long term: Sell whenever I can profit $2-5M.

Offers: (Estimated Amounts- Verify cash flow/expenses/income numbers, bank statements,property condition and NOI- last 3 years)

1) Low range: 1,477,441(NOI/ 10% cap rate)

Estimated Cash flow: $65,285/yr, $5440/month

12 Month/ 12% interest

Middle range: 1,611,754 (NOI/ 11% cap rate)

Estimated cash flow: $52,928/yr, $4410/month

12 Months/ 12% interest

High range: 1,969,922 (NOI/ 9% cap rate)

Estimated cash flow: $25,232/yr, $2102 /mth

12 months/ 12%

$1.4M Offer Estimated Subtotal:

20% down payment=$295,000

Earnest money (est. 2%-5%)= $30-80K

Closing costs (est. 5%-6%)= $88,000

Est. TOTAL: $455,000+ any extra fees (reserves)

Need at least $500K (down payment plus due diligence/ closing costs) Estimated total: $455K

ESTIMATED AMOUNTS! ESTIMATE! ESTIMATED AMOUNTS! ESTIMATE!

Why this IS a good deal! (in my personal opinion):

- $177,293 NOI

-NNN (Triple Net Lease)

- 10% Cash on Cash Return (Approx. 10 years to make back my down payment. Good ROI.

- 7.71% Cap rate

- 100% occupied

- Annual rent increase

- Strong area (affluent demographics)

Listing Info:

https://www.crexi.com/properties/233972/new-jersey...

Hard money calculator:

https://fitsmallbusiness.com/hard-money-loan-calcu...

Inputs:

Purchase price: $1,477,441 (my offer)

Repairs: 0

After repair value: $1,477,441+

(Possibly more. Don't know current appraised value of property so offer price is default.

Lender fund%: 90% (best case)

60% (worst case)

Hard money loan companies typically lend 60-90% LTV (loan to value).

Real Estate Attorney I've emailed:

https://www.simeonelaw.com/?gclid=Cj0KCQiAkePyBRCE...

Property Management Companies I am considering:

ABDM Property Management

http://www.abdmpropertymanagement.com/

RPM

https://www.residentialpropertiesmanagement.com/ma...

As you can see. I have been very thorough with my preparation and details.

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My Business Plan/Vision:

I am seeking the safest possible NNN lease commercial retail investment deal within 50 miles of my location to secure passive income for myself. I am NOT asking for a handout! I am seeking monetary help to raise investment capital to conduct business LEGALLY and become WEALTHY as a result of it in due time (many years from now). An occurrence which is perfectly normal for those seeking to make business investments in Real Estate. Long term, in time, I am looking to scale up from this 1 property and own over 5 or 10. Ultimately I would like to one day make $100,000+/month passively from this.

I am a very neutral, logic based person who analyzes facts and opinions objectively and assess their effect on people as a whole, a group, both subconsciously and consciously- to the best of my ability.

I am sacrificing my 20's so that I can retire in my 30's. (if I so choose to.) By sacrificing, I am referring to the following: no vacations in over 10 years (2007), no clubs, no parties, no expensive cars, no overly expensive house, no overpriced dinners, no girlfriend, no world tours, practically no social life, no overspending, self taught credit card user, self-taught DIY mechanic, invested $4000 into myself to attain my CDL Class A which will pay back over 100 x's, not seeking fighting over useless and senseless topics intentionally meant to divide people unnecessarily amongst a multitude of other self- imposed notions at this time in my life. I've realized that my 20's (through myself and financial research saying the same thing) is the MOST important time for me to "plant my financial seed", (ROTH IRA,401K, Credit, Passive Income, etc.) give it 40 years to grow and see how tall it has grown by retirement.

I am truly the definition of someone who is truly "Self-Made"! Single parent. Middle child. Grew up in the hood. Aimed as high as I could. No silver spoon has ever been given to me! F**k a spoon. Not even a damn dish! I am tired of living off of other people scraps financially. I want to be truly successful in life and able to be free from "the rat race"!

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DISCLAIMER: All following personal statements and opinions stated within are MINE ALONE! Based on first hand life experiences I've had. I am only including the following optional information to help build reader transparency and familiarity with me, the person you are considering donating to. Thank you in advance.

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Personal Insight/ Background:

- Born and raised in Brooklyn, NY. (Bedstuy)

- Grew up in Atlanta, GA. (ATL shout out. I miss you all. Never wanted to leave. Had no choice. Soon be back. Holla at ya boy!

- Graduated from Bronx Academy, Bronx, NY, 2012.

- Honors graduate.

- Class Vice- President

- Community Service

- 90% Avg. Honor Roll (Only one in entire school.)

Life after high school was very rough for me, trying to figure myself out-my intended path. Took many years. Was misfed information about college being the only way in life vs. Trades such as Real Estate but I digress. Life is a journey.

- Attended Essex County College in 2014 and 2015. 3.81 GPA

Major: Business Administration

Had to take a break from college after my tuition costs went up and personal events I was suffering through at the time as well. I could no longer afford it even with the financial aid I was receiving. Something felt wrong with my life. I thought to myself.... how is "THIS" such an obstacle... such a hurdle I can't finish; not unique to me but allowed to occur commonly so widespread in the richest country in the world. People go into debt they can't pay back. I chose NOT to be amongst the sheep who were spoon fed for many years that college debt is normal. Especially since cost of college since the 70's and 80's has more than doubled.

I WILL return to AND finish college when I have the financial ability/personal spending power to pay in full, my tuition, CASH all at once. (Tuition, Books, Transportation, etc.)

I questioned the purpose of it all one day when I had to spend $300 on 2 textbooks in the school library, day before classes started that would only be worth $50 once the semester ended and why was I sitting in class for so many hours, hundreds of hours not making any money for my time here per hour. Only being paid with A's and B's on my report card. A's and B's don't pay rent or bills untill you graduate and life don't stop rolling nicely till you do. Unless you're that lucky... My life didn't. Many days in college I starved in class because I could not afford to buy food. Had to choose between food or a textbook. Watched many people just waste money purchasing any food they wanted without giving it a second thought if their budget, if they even had one, allowed for it. Some people were just born easy and live easy. I accepted that fact a long time ago. I still hate that fact but once again, I digress.

- CDL Class A Driver (8/2018)

- Well spoken AND mannered individual.

- I always seek efficiency when possible over form. (Functionality/reliability over cosmetic appearance.)

Likes/ Interests:

- Auto Repair (6 Years self- taught, DIY Mechanic. Would like to go pro one day and become a Porsche Auto Technician.

- Cars

My dream cars:

2015/16 Porsche Panamera GTS

2008-12 Audi R8 4.2 V8

2007 Aston Martin V8 Vantage

2016/17 Mercedes AMG GTS

- Real Estate Investing

- CDL Class A Driver

- Hip Hop/Rap

- Video Games

- Movies

- Technology

- English/ Writing

- Guns

- Vocabulary

- Well spoken AND dressed people

- Nature

- Architecture

Dislikes:

- Racist people

- Ignorant people (speak before researching)

- People who waste food

- Police Brutality/ lack of accountability

- People who are overly sensitive and can't conduct in healthy debate.

I am NOT going to sugar coat myself. I am a realist. I am a Black man in America who has experienced racism/discrimination more times than I bother counting anymore but I persevere nonetheless focusing on greater days and success to come for me.

One such time was living in NYC during Bloomberg's Stop & Frisk and having the police f**k with me multiple times for no reason trying to agitate and illicit a response out of me so they could conduct illegal searches on me.

Personal Thoughts:

On a macro level, through many thousands of hours of deep thought, studying, analysis, meditation, observation and examination of society and the world as a whole, l've personally realized first-hand (multiple times) through a VERY, VERY terrible horrible, hard life I've lived struggling through lifelong poverty, struggle, starvation, eviction, homelessness, bankrupt (no money/ low money), messed up credit, contemplating the purpose of my life a very long time ago, contemplating committing harsh egregious crimes that would have sent me to prison, stained my name and possibly lead to my early untimely death that money/wealth is what ultimately gives you options in life; and options gives you choices. Choices to do what you want to do. When you want to do it. Eat what you want. Travel where you want. Ultimately, having fun whenever you want and choose to. When people DON'T have a choice, they become desperate and envious and commit crime in hopes of bettering their situation by any means necessary- human survival instincts kick in often in negative ways as a reaction to an environment more often than not. We live in a harsh capitalistic society where you either have money or you don't.

Note:

As grim as my life conditions sounds, I am only providing a general overview, not specific instances. I am fine with that. I grew up rough. That is a fact.

Thank you,

Ojomo Minott

https://www.crexi.com/properties/233972/new-jersey...

Disclaimer:

The information is NOT guaranteed to be correct, complete or current. No warranties or guarantees, expressed or implied, about the accuracy or reliability of the information is made. I am NOT legally responsible nor liable in any way, shape, form or manner for any results, damage(s), injury, or loss, physically, financially or otherwise, which may come of you using this information. Seek professional advice/consultation as needed. Use at your own consensual, voluntary discretion and risk. By using this document, you fully consent to all possible outcomes that could come of this information. Proceed at your own risk.

Start: 12:32PM

Finish: 2:39 PM

I wrote this document myself with no outside assistance.

Edit: Approx. 6HRS

Finish:8:48PM

ESTIMATED AMOUNTS! ESTIMATE! ESTIMATED AMOUNTS! ESTIMATE!