Looking for Equity Partner or Joint Venture
First off I want to say that I would love ideas, critiques, and general thoughts about the idea below. I am just tired of sitting on the sidelines and watching oppurtunities pass me by. I am not trying to re invent the wheel but rather capitalize on a niche I see developing in my real estate market. I do not know everything about real estate and yes I am new to investing but I do know how to rehab homes, keep costs down, and I will not stop till I deliever.
I am located in Northeast Ohio and currently own and operate a construction company for the past seven years. I want to start a real estate business in which my company finds, rehabs, sells or rents the property. I understand I am not inventing the wheel but I do have some options that can be appealing. I am really looking at ways to generate capital, investors, and a brand name. The market is prime for both buy and holds and buy and flip so long as cost can be maintained. I have bought and rehabed three homes and currently rent two out. Below are some options I think can be benefical to both investor and myself.
Option 1: A 80/20 split of the profits Example: We have a house currently priced below $19,900. We have inspected the property and estimate costs to be 20,000. Total invested would be roughly 40,000. The assessed value of the property is 91000.00 It is a up and down 2 bed 1 bath each unit which would rent between 500-600 a month. We can sell to a turn key investor for 65% assessed value 59150.00. Comps in the area will support a 60000 sales price quickly. Profit will be 19500 a 80/20 split would be $15600 for YOU and $3900 for my company. If we did one per month you could possibly clear 187200. We do all the work including finding, rehabing, selling you can sit back and watch the money roll in. Invest once or keep investing with us.
Option 2: TurnKey Solution 50,000 will deliever the same home fully rehabbed, rented with property management and a warrenty for 1 year. The average rent would be 1100.00 per month. This home can change based upon your request including location, price, sfr or multi, basically you tell us what you are looking for and we will deliever it.
Tell me what you think. I will make this work. I have the passion, work ethic and attitude to create a successful oppurtunity for all involved.