We are new to the investment world, however, not new to the rehab world. My husband has been a contractor for 30 years. We are wanting to fix and flip.
We have been looking for and trying to secure some finding for what feels like forever now. We talked to this company called “Partner Driven Real Estate” yesterday and have an appointment to finish our conversation this morning at 11.
They use their money 100% to purchase the property and fund the rehab 100% and when it sells you split the profit 50/50. Because my husband is a contractor he can do the work with his crew and they said he can turn in an invoice every Thursday and get paid for the work on Friday’s. (If he wasn’t a contractor, the company hires a crew to do the rehab)
They obviously have a fee to work with them. They require 1500.00 up front and then out of profits until you reach 9900.00 and then you are a lifetime member with them and they never charge you another dime and will continue to work with you the same way.
Any help on this company would be very helpful? Thank you
Is there anyway you are able to make connections with local REO realtors and hard money lenders yourself? Do you have cash to invest? If so, you would not need to work with this company and can keep all of the profits (minus financing and holding costs).
@Charles Carillo thank you for responding. I would rather do what you have suggested, however, I don’t know how to find them?
I would suggest you start locally networking. Local real estate Meetups, conferences etc. If you flip the properties yourself, you also need to have money for deposits, reserves, holding costs, if anything goes wrong etc.
@Charles Carillo thank you for the advice. We do have the money for a down payment. I will look into some local stuff around us.