Wholesale Properties In Sacramento ... Need Investors!

[David Oldenburg]

There are 2 opportunities here. I am negotiating a bulk REO buy of homes in the Sacramento area. I need investors who want to buy these homes that are perfect for fix and flips. I also have an opportunity for someone who wants to be involved with the money.

I need someone who wants to put up $750,000. I am putting up $250,000. You will have a first mortgage at 75% of the price I pay, which is steeply discounted from actual value. Your actual LTV is closer to 50% or less. I am paying 10% in rate and 10% of net profit to you on each home. I usually use all of my own money, but I have a lot of money in other deals right now. I will be paid back on about $550,000 of my money within the next 45 days, and can pay you off most of the money if you are only seeking a short-term loan.

A little more info: This is a bulk buy of REO's in the Sacramento area. The way this works is that I commit to a purchase price. In this case $1 million. I am able to pick from a list the homes that I want and substitute homes that I do not want. I will estimate value on each home, and determine if it is a better fix and flip or wholesale. Please read my BIO here if you want to know my background. If you have questions, please ask them here or call me direct.

[Gordon Cuffe]

good luck with that. please tell me about any of the ones that you might sell off.