MUST fund deal ASAP. For Private Lenders
I have been in contact with several Hard Money Lenders but not really interested in obtaining that kind of funding at the moment. Our previous partners and a few others we have talked to recently have their funds tied up and not in the position to work this deal.
I have a deal that will soon be hitting the market and need to get the funding before it does. If you are a private lender looking to fund a deal, contact me and we can go from there. You can also email me directly at [email protected] or [email protected]
ARV (sq ft price): $250-$260 sq ft (conservative--some properties going for $280 sq ft)
ARV $875k (conservative)
Purchase Price: $400k
Repairs: $275k (high end property that requires popping the top to add sq ft to compete with other surrounding properties selling for $850k and up. Looking to turn it from a 1500 sq ft to approximately 3500+/-)
Current: 3/3 to be rehabbed to a 5/4.5
DOM in this area is LOW 0, Average 39 and MED 6 for price range of 700k to $1.5M.
This has the top notch school system in the state and is the most desired area to live.
To give a little background of our skills and knowledge, we provide a full package service operation and have been doing construction for 23 years which includes anything from framing houses to landscaping. My design work has been featured in 6 magazines, on 4 episodes of TV, in Decorators Showhouses and in many million dollar homes in this area. I have been designing for 23 +/- years. I am also a licensed real estate agent. We have completed 42 flips which include minor/major rehabs to new builds.
We structure our JV depending on the deal but for this deal:
Financier to pay 100% financing on PP and repairs/expenses;
1) JV Option of 70/30 profit with the 30% going to the Investor.
OR
2) A simple interest of 10% on their money that we borrow which is paid out at the sale of the property.
3) We provide all of our partners with a 1st Position Mortgage.
4) We provide all of our partners with a JV agreement outlining our terms.
5) We make all of our partners named as Mortgagee, Loss Payee & Additional insured on our insurance policy (meaning paid out first). We also will RAISE our insurance policy to not only cover the initial investment from a partner but the potential profit as well.
6) We will provide bi-monthly video updates of the property to ensure the investor that the work is progressing.
7) We provide a hands free investment opportunity which means we take care of all that is involved including but not limited to the design, the contractors, permits, purchasing of materials, staging of property, sale of property etc.
Attached are just a few of our past projects.
Contact me (private message or email above) if interested in funding this deal or any other deal we may have.
Donna Allon