Hey all,
I’m looking for a real estate investor to team up with on some deals in Greenpoint, Brooklyn. I’m targeting residential purchases in the $2-3M range—dilapidated homes we can gut renovate and flip back onto the market within a year. I'm looking for a partner that has the financial firepower to qualify for a deal like this (think ~$350k annual income for loan purposes). I’d split all costs and profits down the middle, and I’ll handle all of the leg work and manage the contractor side of the reno at no extra charge.
I currently work in construction as a manger, am a licensed engineer (structural by training) and real estate investor. Now, I’m ready to go full-time into real estate by starting with flips and scale up with the right partner who’s serious about growing this venture together. If you’re interested in discussing further, please drop me a line and we can hash out the details.
Best,
Sepehr
Hi Sepehr - I am a hard money broker, and I think I can help. Please see my website www.TeamBalian.com, and call me 818-616-0134 cell.
I look forward to speaking with you soon.
Thank you Sepehr.
@Sepehr H. So you’re looking for someone to guarantee the construction loan and bring half of the equity to the table? Can you share economics of these flips? Total cost including renovation, anticipated profit etc?
@Stuart Udis - Yes, I am looking for someone to guarantee the loan and provide half of the equity. The numbers below are based on a flip my neighbor is currently working on. This property is near the Nassau Ave subway station and around the corner from where I currently reside in Greenpoint:
I don’t know if they rolled the construction costs into the loan. Assuming they did and provided a 20% down payment, they were both in at $250,000 each and expect to make $500,000.
In terms of experience, this was their third flip. They are now looking to buy a property a street over and are also looking to perform ground ups.
Additional details:
My neighbor is managing the work and purchases many of the long-lead items. While he’s not licensed, a general contractor who has worked with him in the past is comfortable with my neighbor executing the work under his license (for a fee, of course).
They expect to complete construction by the end of March.
He and his partner (who guaranteed the loan) plan to hold the house for a full year to avoid paying short-term capital gains taxes.
Let me know if you need me to clarify anything further.
@Stuart Udis - Yes, I am looking for someone to guarantee the loan and provide half of the equity. The numbers below are based on a flip my neighbor is currently working on. This property is near the Nassau Ave subway station and around the corner from where I currently reside in Greenpoint:
I don’t know if they rolled the construction costs into the loan. Assuming they did and provided a 20% down payment, they were both in at $250,000 each and expect to make $500,000.
In terms of experience, this was their third flip. They are now looking to buy a property a street over and are also looking to perform ground ups.
Additional details:
My neighbor is managing the work and purchases many of the long-lead items. While he’s not licensed, a general contractor who has worked with him in the past is comfortable with my neighbor executing the work under his license (for a fee, of course).
They expect to complete construction by the end of March.
He and his partner (who guaranteed the loan) plan to hold the house for a full year to avoid paying short-term capital gains taxes.
Let me know if you need me to clarify anything further.
Hi, I am a flipper in NJ/NY. please contact me @ 7187915768,
@Stuart Udis - Yes, I am looking for someone to guarantee the loan and provide half of the equity. The numbers below are based on a flip my neighbor is currently working on. This property is near the Nassau Ave subway station and around the corner from where I currently reside in Greenpoint:
I don’t know if they rolled the construction costs into the loan. Assuming they did and provided a 20% down payment, they were both in at $250,000 each and expect to make $500,000.
In terms of experience, this was their third flip. They are now looking to buy a property a street over and are also looking to perform ground ups.
Additional details:
My neighbor is managing the work and purchases many of the long-lead items. While he’s not licensed, a general contractor who has worked with him in the past is comfortable with my neighbor executing the work under his license (for a fee, of course).
They expect to complete construction by the end of March.
He and his partner (who guaranteed the loan) plan to hold the house for a full year to avoid paying short-term capital gains taxes.
Let me know if you need me to clarify anything further.
Hi, I am a flipper in NJ/NY. please contact me @ 7187915768,
Hi Asif, I will give you a call tomorrow.
Regards,
Sepehr
Hi Sepehr - I am a hard money broker, and I think I can help. Please see my website www.TeamBalian.com, and call me 818-616-0134 cell.
I look forward to speaking with you soon.
Thank you Sepehr.
HI sepehr I am a Direct Lender
would love to take a look at your deals
HI sepehr I am a Direct Lender
would love to take a look at your deals
Hi Judah, my apologies for replying to you a little late. Unfortunately, I just saw this. What is the best way to reach out to you?