This is the rendering of the property in contract It is located in Seminole, Florida about 10 minutes from the Gulf Beaches ARV $360,00 3 bedroom, 3 bath 2 car garage 2,000 sq ft when done. Very large screen in porch not counted in sq footage. Very secluded and quiet.
Requesting a Hard Money Loan for $230,000 and JV Equity Partner for $45,000
Hard Money Loan Terms: 3 points 12%
JV Profit Share – Projected at 28% in 4 months or less.
Key Success Factors
Very experienced real estate investor who is personally managing this project. Another key success factor is the contractor who is incredible and has a wonderful track record for delivering a great product that sell fast for top dollar.
JV Equity Partners
You will enjoy working with our team. We are experienced, we know the project controls that are important to you and the communication as to project progress. Of course you are going to enjoy your portion of the profit share.
Lenders Please Note:
The LTV is 62% You will be in first secured position. We will bring $45,000 cash to the deal. If you are comfortable with a higher LTV that is great. We will provide you with all of our analysis including detailed renovation plan and budget as well as access to our market expert who support our conservative ARV.
We are interested in working directly with the decision maker who is experienced with residential buy fix and flips as we know they can decide very quickly if this is a deal they will close or not.
You are welcome to pitch this deal to lenders who you personally know who will be very interested in funding this deal. That should be two or possibly three resources. Do not pitch this to some mass mailing list. We will provide all the information you need . Do not ask us to complete an application process. Finally your fee, comes from the lender or JV Equity partner. The above numbers are net to this deal. The points and interest are what we will pay.
Time Is Of The Essence
We have a 10 day due diligence process after which our deposit goes hard. That due diligence ends January 12th This is an excellent deal that took us many weeks to get into contract with the bank selling it.