Investors Needed For Renovation/Development

[Charles Jenkins]

Investment Info:

Single-family residence buy & hold investment in Pinehurst.

Purchase price: $170,000

Built in 1968, originally a 1416 sqft 2/1/0, transforming to a 4 bed 4 bath. Inherited home, reverse mortgage due $170k, looking to renovate, build ADU, split property in half and do it again. 4 total structures and 14 bedrooms makes for a nice investor return. I'm flexible, generous and will accept all kinds of terms. It's a buy and hold, not selling, will be residing, managing and paying partial rent. Looking for investor(s) for a variable deep dive. Plan has 4 phases, partial interests ok. Higher returns than normal available for investor. The equity locked in by reverse mortgage and any other equity gained by improvements can all be had immediately. I'll take a rear position retaining ownership. Call, text, message or email if interested.

What made you interested in investing in this type of deal?

It's potentially a massive return once up and running.

How did you find this deal and how did you negotiate it?

This particular property was inherited, the negotiating will be with my partner.

How did you finance this deal?

It'll be solely a partnership for this one.

How did you add value to the deal?

By adding beds/baths and an ADU. Renting by the room for more revenue.

What was the outcome?

When complete it'll be 12-14 paying rooms and an increase in value, equity and a continued generator of wealth

Lessons learned? Challenges?

The first one IS a nightmare. I should've started sooner.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No realtors, No lenders this time. Just partners.