Seeking Private Investor For Reno Funding of Procured Property
Afternoon Private Lenders,
I'm Michael, previous Army Vet and recently moved from 10yrs in corporate IT leadership to licensed real estate full-time about eight months ago in Phoenix, AZ. This is my second residential luxury renovation project, as I completed my own Scottsdale remodel in 2018 converting a dated 1969 1800 sqft. 3-bed, 2-bath home into a 3000 sqft. 3-master suites, 3.5-bedroom with pool and separate 1,000 sqft. shop on a half acre lot. You can see pictures on my real estate site of the before, progression and after photos. I purchased this property in 2015 at a opportunistic growth purchase price that has created double its equity from the renovation design we incorporated. This project surrounds several million dollar homes and NFL/MLB names. I've worked hard for all my educational and strives after the military, and hoping to make my dreams of being an self-employed entrepreneur come true. On a side hobby, I also rebuild classic mustangs and hence the company real estate name.
I'm fully invested into residential real estate along with my long time family friend that has invested into properties with me over the years. With recently starting my real estate business, I'm not able to tap into equity line funds quite yet without the two years history and also have allocated my SDIRA funds into the procure, design phase and holding expenses of our new investment property in Phoenix, AZ.
We procured this new investment property Dec. 28, 2018 in highly sought after neighborhood in Uptown, Phoenix AZ with mountain views from the front and back of the property. We have already started the drafting of plans for permitting, itemization of renovation costs and can share our investment package which illustrates our anticipated ARV, construction costs, est. closing and provides a preliminary negotiable interest rate to a private lender to help us fund our renovation cost of the project solely.
In recap, my business partner and I already have acquired the property, worked on estimates for the entire renovation, permits and formal plans are underway with our drafting company and we are seeking $140K in funding to allow us to complete the luxury renovation. We already have established relationships from previous projects with licensed sub-contractors that have already been engaged on estimates or supporting with permits. This residence's location is close to Scottsdale, Arcadia, Paradise Valley, Downtown Historic District and much more, with home values from $250K to $3M in appraised values. I've worked a solid deal as the agent in the procurement of this home that has allowed us strong potential ARV returns.
Please see our recently published article that shows the property, discusses the current progression and illustrates the floor plan for the conversion adding 1,675 additional square feet to the property. We are newer, but --- professional, experienced and looking for support/help to get our business rolling. We hope to build a relationship with a private lender that can be long-term and lucrative for both sides. AKA someone to see our quality/integrity and give us a opportunity.
Thanks for taking the time to read and apologize if a bit long in details. If interested in working with us on this opportunity, please let me know.
Michael T.