Updated over 10 years ago on . Most recent reply
SF Bay Area Partnering Opportunity
Hello BP members from the Bay Area!
I have a client seeking funding for a property in a desirable neighborhood. The project entails acquisition of an off-market triplex and large lot, remodeling of the current triplex, and subdivision of some of the lot for construction of a second triplex.
My client flips homes, has a contractor, has experience, and does all of the leg work. He normally uses hard money lending but this time is looking to partner. By partnering and funding, he is offering 50% of everything past 800k minus closing costs.
Total funding needed: 800k
ARV of the current triplex ~700k
Value of the additional subdivided triplex built ~500k
Total resale ~$1.2 million
The difference ~$400k minus closing costs split 50/50
Please contact me for further information. Time is of the essence.