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JV Opportunity in Miami Beach
#5 Guru, Book, & Course Reviews Contributor
- Real Estate Consultant
- Evergreen, CO
We are looking for a JV partner with $215,000.00 cash. This is a property with an ARV of $3.4-5 Million. We have 100% of the rehab funds covered and all but $215,000.00 of the purchase. In addition my partner has a high profile realtor lined up ready to move this property quick. We also have the contractor ready to rehab this and get it on the market.
$2,150,000.00 purchase $285,000.00 rehab of which all but $215,000.00 is covered. We will have $35,000.00 for reserves for interest payments on the first.
We are looking for a 90 day float on the money and will pay $107,500.00 in addition to the principal upon the resale. You will have a 2nd on the note. Should it take more than 90 days than we will have a contingency for that if so be it.
Most Popular Reply
Property sold for 950k last year and then again a month later for around 400k more. What is going on with that property?