Evaluating several investment properties and happy to provide details as my analysis in finished (complete with a BP Rental Property Calculator); however, would like to prepare the basics for a structured "private money partnership"...please advise if you could be interested in the following (deal by deal):
Private money partner to provide RE purchase money and take back a 1st not to exceed 70% LTV
Initially I could provide down payment or rehab cost in cash but I'd rather not as it is not in endless supply
Would like a rate a 1 - 3 points above current mortgage rate
Will agree to a % of equity upon sale bringing the total return at or above typical private money rates
Balance of mortgage money + agreed % equity paid in 5 year balloon
The above is an example with term, rates, and % equity to be determined based on the merits of each deal.
Other About me: Strong Credit, employed with solid W2 income (I am not trying to live off of RE investments focused on building retirement)
So, two questions
1) Please advise if you are a potential "private money partner" willing to use this as a framework
2) Appreciate any advise from BPer's on this approach or modifications you may suggest
Can you send me over some more details on the project you are evaluating currently? You can PM or email me directly at [email protected] I can review and get back to you with my proposition.
We may be able to help. Please send details of your project. [email protected]
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