Anyone interested in Partnering on a Memphis Flip?

[Tim Marais]

I have flipped quiet few houses in Memphis and wanted to see if any one is interested in partnering on a high end flip.

6055 Woodway Dr, Memphis, TN 38120 

I already bought this house and started construction. We have approve plans and it should be finished in about 2 months. 

Drone videos
https://youtu.be/zJ0UNtxhYn0

https://youtu.be/1id9AAPR0Pg

$800,000 ARV

-$415,000 Purchase Price

-$200,000 Construction

-$ 20,000 Loan Payments

-$ 32,000 Commissions and Closing Costs

-$ 10,000 Staging

$123,000 Net Profit

Here are the plans, upgrades and design photos.

https://www.dropbox.com/sh/vqr...

$800,000 ARV based on these sales Comps.

6482 River Fall Dr, Memphis, TN 38120

4 beds

3.5 baths

4,545 sq ft

0.57 acres lot

Sold on 06/26/19

Sold $895,000

https://www.realtor.com/realestateandhomes-detail/6482-River-Fall-Dr_Memphis_TN_38120_M88211-78728#photo20

6404 Blue Heron Cv, Memphis, TN 38120

4 beds

4.5+ baths

5,436 sq ft

0.42 acres lot

Sold on 06/23/19

Sold: $840,000

https://www.realtor.com/realestateandhomes-detail/6404-Blue-Heron-Cv_Memphis_TN_38120_M84506-04972#photo23

6036 Wild Oaks Dr, Memphis, TN 38120

4 beds

5.5+ baths

6,369 sq ft

0.56 acres lot

Sold on 02/28/20

Sold: $1,025,000

https://www.realtor.com/realestateandhomes-detail/6036-Wild-Oaks-Dr_Memphis_TN_38120_M85316-03094

6423 River Tide Cv, Memphis, TN 38120

4 beds

4.5+ baths

6,165 sq ft

0.58 acres lot

Sold on 03/31/19

Sold: $899,900

https://www.zillow.com/homedetails/6423-River-Tide-Cv-Memphis-TN-38120/42263159_zpid/

5820 Garden River Cv, Memphis, TN 38120

5 beds

4.5 baths

4,918 sq ft

0.8 acres lot

Sold on 10/28/19

Sold: $790,000

https://www.realtor.com/realestateandhomes-detail/5820-Garden-River-Cv_Memphis_TN_38120_M85084-04449#photo24

600 River View Rd, Memphis, TN 38120

4 beds

4 baths

3,876 sq ft

0.74 acres lot

Sold on 08/19/19

Sold: $800,000

https://www.zillow.com/homedetails/600-River-View-Rd-Memphis-TN-38120/42263122_zpid/

EQUITY SHARE AGREEMENT TO PURCHASE PROPERTY

This Agreement is between, Equity Homes, LLC, and ______________________________________.

WHEREAS, the parties anticipate purchasing real property as co-owners and;

WHEREAS, the parties and each of them will, from time to time, advance funds for the purchase, construction, and sale of said property.

IT IS AGREED AS FOLLOWS:

1. This Agreement shall apply to the purchase, construction and sale of the real property commonly know as 6055 Woodway Dr, Memphis, TN 38120. The new co-owner _____________________ _____________________________________ shall give the original owners Equity Homes, LLC $_____________________ to become a co-owner.

1. If either party shall contribute more cash capital to the purchase, maintenance or sale of any real property upon the sale of said real property such party who made such advances shall be entitled to reimbursement from the sale, refi or equity line of credit proceedings, after which the profits and losses resulting from the sale shall be divided equally between the parties.

1. It is the intent of the parties to share all profits, losses, expenses, and liabilities to the properties, equally.

1. Party to make the payments is the party who is on the mortgage Equity Homes, LLC. Who is also the Party keeping records to provide an accounting of income and expenses once a year to other party. Party to keep records is Equity Homes, LLC.

1. It is the intention of both parties to split the tax advantages equally (if entitled to such tax benefits).

Please contact me for more details if interested.