Florida NPN Accredited JV Partner Wanted

[Bill B.]

Hello,

I've found a non-performing note in Fort Pierce, Florida. I have NOT purchased the note. I'm looking for an accredited investor willing to enter into a JV that will purchase this note.

ARV of the collateral securing the note is $65,000.

My own work, and an AVM, confirm the ARV of $65,000. I have a full BPO ordered that should report on Tuesday. UPB is over $90,000.

Total Costs to purchase, hold, service, pay back taxes (if needed) are $31,000.

I'm seeking $26,000 from the accredited JV partner.  I will provide $5,000 in workout costs.  The JV partner will receive 70% of net proceeds after all costs to purchase, hold, service, work out, and exit the investment are paid in full. 

As-Is CMV is approximately $40,000. (If the exit is a FC and sale to a rehabber.) Assuming a sale at CMV of $40,000, and Total Costs of $31,000 yields Gross Profit of $9,000.   

70% of a $9,000 Projected Profit is $6,300, divided by a $26,000 investment yields 24% to the investor. 

The return noted above cannot be guaranteed. It is based on projections and could be lower, or higher. There is risk in all investments, this one included.

Thank you for your time, attention, and consideration.