BiggerPockets

Hello
I am seeking a cash investor / partner to flip properties in Chicago. Properties will be purchased at 40-60% below market value and then resold quickly. Will be purchasing reo's, short sales and properties at auction. Have solid exit strategy in place, I can locate the incredible deals, do repairs well below normal cost, I just need the cash .

I have been wholesaling for a while now and want to get into fix and flips.

This will be a 50/50 equitable partnership. Both our names will be title. We will have a joint venture agreement to protect us both. I locate, negotiate the price, do all repairs and find end buyers. All you have to do is fund the transaction including, earnest deposit and repair cost. We spilt the profit 50/50 when property is sold. Max time of holding a property 3-6 months.

Look forward to hearing from you and making serious money together.

Amin Ali

Amin, with those numbers (good!), you should be able to do hard money. Have you looked into it?

You're not looking for hard money. You're looking for a money partner. Different thing. Hard money is cheaper, but the HML wants more protection. You need to find someone, probably an individual, who's interested in the higher risk and returns associated with your deal. A good place to start might be REIAs, and just start talking to people.

Exactly Jon H. Ive been trying that, but I will continue to do so and wont give up until I find someone. Thank you for the response

Amin,

I always believe two heads are better than one. I have offered that people in your situation partner with me to use my experience doing exactly what your talking about (although in REI circles my experience may be somewhat limited), and your/their experience to find and secure private funds. I have raised private money and know it can be tough, but not with deals like you are saying and like the one I just watched my brother-in-law secure with private money:
117k purchase
12k rehab
200+ ARV (conservative for Westchester, IL)

We should get a cup of coffee.

P.S. I put this here because it says I'm following you but couldn't send you a message.

Amin, you mentioned you've been wholesaling for a while now, have you tried presenting your proposal to the buyers you have closed deals with or start calling the buyers on your list? You might have a partner closer than you think. Or search the MLS for recent transactions that were closed with cash, check the addresses, pull title, and contact those investors... you should be able to find a handful. Might have to do a public records search depending on how fast the new owner on title is updated. It shouldn't be any different then building your buyers list.

David,

I have brought this idea to some of my buyers but the majority of them are rehabbers themselfs and have their money tied up into their own projects. But I will try researching the public records though. That was a good idea.

Thank you

Hello Amin,
I know some of your post´s from last year. You are the guy who wanted some REO tape sellers in CA for over $1 billion and you told also in one of this post´s you closed a $1 billion deal as intermedian.
So my question: why do you dont have these 20-30% for downpayment after this closing?

-Uwe

Amin -
Please see my notes made today on the thread that Uwe is referring to:
http://www.biggerpockets.com/topics/54527-ca-tapes-1b-and-up

Sorry. Hard to believe your story Amin.

-Uwe