New Ohio member reveals triple net lease concept 3 posts by 3 users

Posted: 01/18/2008 at 01:10PM

Hola,

As a new member, allow me to introduce myself.

With a degree in journalism – and a 30-year career as a reporter and editor, plus public relations, advertising, marketing and more – I decided to get a real job when I grew up. That would be a real estate investor.

Starting in 2005, I purchased and rehabbed 8 homes in the Greater Dayton, Ohio area – three have been sold and the rest are rented or under land contract.

However, with radically changing market conditions here, a new plan was clearly needed. I’ve hooked up with a partner who has been a real estate broker for 30 years. He’s crafted a unique business model and the fun is just beginning. We invite you to check it out.

We are in the business of creating positive, predictable cash flow for investors, through single-family homes we have purchased, rehabbed and rented. Subsequent to renting the houses, we sell the houses to investors and lease the houses back for a period of 5 years. Through our triple net lease, we pay all maintenance costs, taxes and insurance. If the renter leaves, or trashes the place, that's on us. The owner/investor still gets their lease check from us each month, no matter what.

In short, our investors gain all the benefits of owning a rental property, without the management hassles of landlording.

Our goal is to have at least 162 local homes under contract by the end of 2008. As a result, we have a need for short-term money to purchase and rehabilitate these houses. We offer first mortgages with 6-month balloon payments and we include personal guarantees of the principals. Interest rate and other terms are negotiable.

If financing properties is something that you have an interest in, here’s a way to earn a very good return on your funds, compared to certificates of deposit and money markets. One of our investors is using their self-directed Roth IRA.

Let’s do some business!

Posted: 02/19/2008 at 03:45PM

Gene,

Welcome to the site. Maybe a little late and extending a welcome but just the same, welcome.

Have you found much cross over between you prior work and the REI focus?

John