$183,192
888 Roanoke Rd, Cleveland, OH 44121
Current Rent **
$1,800
Projected Rent **
$1,800
Ohio Investment Properties
JOINT VENTURE LEASED REAL ESTATE INVESTMENT OPPORTUNITY!!!
The Second Chance Programs Inc is seeking a Joint Venture Investor to participate in an excellent short-term opportunity of 11 leased single-family homes in the Cleveland, Ohio area.
The properties have been upgraded and leased to qualified tenants. The Investor will purchase the properties with a two-year Lease Purchase Buy Back agreement in place from the Seller. The leases will be assigned to their entity at closing.
The Metrics for the Joint Venture are as follows.
• Joint Venture Outline:
o Investor maintains ownership of each property in his entity until the purchase lease is exercised.
o If a lease is broken, the Investor has the choice to sell or re-lease to a new tenant.
o Investor is in control of property management.
o The seller receives payment from the Property Management division after closing.
o Properties purchased at an average of approximately 75% of value.
• Income Division:
o At closing, 3 months of advanced lease amounts, divided 80% to Investor and 20% to Seller.
o Continuing net rental income of 60% to Investor and 40% to Seller.
o Buy back income of 8% annually from the purchase price of each property. 100% to Investor.
o Projected cash on cash returns is approximately 44% for the two-year period on a leveraged basis.
The Second programs llc has secured financing for qualified Investors for the package through Fast Money for Flips, LLC.
For further information on this exciting opportunity, please contact Jeffrey Abraham @ 720.999.1147 www.fastmoneyforflips.com and www.2ndchanceprograms.com
Location:
888 Roanoke Rd, Cleveland, OH 44121
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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