Need an investor partner for a joint venture or a lender!!!
Can anybody help me out, or provide a tip on how I could go about finding people that oculd help us out?
My partner and I are both licesned realtors. We specialize in investment properties. Right now we can't find enough below market value properties to supply our investors, so we are starting to bid on foreclosures at the courthouse here in Phoenix, AZ. We need a lender to help us increase the amount of properties we bid on.
Wre looking for a lender who can provide loans to us to buy foreclosure properties at auction, and pre-foreclosures directly from sellers. In the case of the former, we would bid at the auctions, then put down the necessary 10K out of our own money immediately as the courthouse requires. We would then need access to funds to pay the balance of the property within 24 hours as required by the courthouse.
Hopefully we would move that house to our investors in only a few days. So, we’d be looking for a loan of up to 400K max per house (most of these would be 150K to 250K) for a week or two maximum. We’d like to be able to do this over and over again, and reach about 15-20 properties a month in a few months.
We need a lender who can fund these purchases quickly and who would take either a flat fee per house or fixed %. We are happy to offer a higher flat fee based on if we only need the money for 7 days, or 7-14 days, or 14+ days. We could provide addresses of the homes we planned to bid on before the auction as well so that lender could evaluate them, we could provide a larger fee or % if the homes don’t move quickly of course, and we are happy to meet a potential lender in person and go into detail about how we will move the homes and continue to build our investor database.
If anybody is interested in helping us, or providing tips on how we might find an interested party, I'd be most appreciative. Thank you!
Best Regards,
Aaron Gough
Realtor
West USA Revelation