Lender · Miami, FL · Member since 2018 · 142 posts · 10 votes
I'VE FUNDS READY FOR PARTNERSHIP OPPORTUNITIES. Looking for short-term, high-margin deals. Any type of real estate, and any location, considered. Feel free to reach out with your deals, at +1 (305) 607-2104, or [email protected]
JV Contractor Syndicate Piscataway, NJ · Member since 2015 · 283 posts · 24 votes
5y
Hello Edmundo, I have a RE purchase contract in attorney review to buy an SFH in Bound Brook, NJ for $235K.
AFV with rehabbed about 1350- 1650 SF home selling here between $400-500K (currently a ranch to be turned into a cape cod. I do have the hard money available 90% purchase and about the same for repairs, as of now we do not know the repair costs as there are several variables and depending upon the appraisal. They give about 65%-70% LTV. I need gap funding to purchase and some repairs
Lender · Miami, FL · Member since 2018 · 142 posts · 10 votes
5y
Jay, our partnership funds require a first-lien position, so they wouldn't work here. However, for this project, we can provide hard money at 90% of purchase + 100% of rehab. Does that work?
JV Contractor Syndicate Piscataway, NJ · Member since 2015 · 283 posts · 24 votes
5y
Dear Edmundo,
Thanks for the info. I already have a relationship with a lender who gives me 90% on the purchase price + 100% on rehab and 80% LTV (I have done 5 properties with them).
I am trying to rehab several properties simultaneously. My personal gap funding limits me, and I am looking for the gap funding (partnership) only. The market window time is unknown and before it goes belly up again, like last time in 2008. I have no accurate crystal ball, so I am trying to hedge to 6 months ahead only.
I take it you are a hard money lender.
I thank you for your time. I have done several properties and if you know of someone looking to partner with us in the syndication, Please refer them to us. We shall pay you a fee for it.
Lender · Miami, FL · Member since 2018 · 142 posts · 10 votes
5y
Jay, we have 2 pots of money. 1) Private Partnership Money, must have a first-lien mortgage, can fund 100%. 2) Hard Money, must have a first-lien mortgage, high LTV/LTC. What we cannot do is invest equity into a deal, where there is a senior third-party loan, that secures the first-lien mortgage. If you e-mail me some numbers on your deals, we'll be glad to take a look.