Private money partner for a fix and flip

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Private money partner for a fix and flip

Member since 2019 · 51 posts · 11 votes

I have a fix and flip deal in Columbia that looks great and I am looking for an investing partner. If there is a lender that can act as a private lender, I can partner in two ways: 

1) 50/50 profit split where I will bring the deal ("sweat" equity) and investing partner brings 100% of the funds. As described in an LOI, that investing partner would recover 100% of their investment at closing, and we split the profits 50/50, or

2) I will apply for a HML and that investing partner cover the 20% down payment + holding/closing costs, and I will provide a 12% annualized return on their investment.

If this looks of interest to you, please let me know! I have the analysis breakdown of the property in question and can discuss further for those seriously interested.

Basic info for now:

Purchase price: $450,000

Reno: $80,000

ARV: $655,000

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  • Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    Happy to answer any questions. If you have 20% down you should be good. Here is how most work:

    • • Rates: 9% to 13% (Most Deals are 11-12%)
    • Terms: up to 36 Months (Most Deals are 6-12 months)
    • Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
    • Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
    • Max Loan: 65%-70% of After Repair Value(ARV)
    • 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
    • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
    • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
  • Member since 2024 · 63 posts · 6 votes
    2y

    I am equipped to provide funding solutions tailored to projects involving property renovation and resale (fix and flip), long-term property ownership (fix and keep), as well as refinancing initiatives.

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