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Successful property renovation company looking for new investor

    • 2 posts
    August 24, 2007 5:52 AM EDT

    We are a property renovation company located in Illinois.  We have flipped over 40 houses in the past 9 months, always making a great profit.

     

    We worked under an investor who would send us to look for properties that were foreclosed or FSBO.  We would walk through and provide him with a budget and photos of the property.  If he decided he wanted to purchase the property, he would take a loan for the house and the budget for the rehab.  We would flip the property and have it on the market within 25 days, 80% of the time closing before the 30th day.  After closing, the investor would take the money that he provided to us along with a percentage of the profit.  We always made a very nice profit on the properties. 

     

    Our investor has since retiring and we are looking for a new investor or business partner.

     

    We have several homes in the area that we have walked through and done research on, some we have done inspections on as well.  All homes are under 30,000 with a 10,000-20,000 rehab budget and comps are ranging from 90,000-160,000. 

     

    We would like to get started on one of these before they are no longer on the market.

     

    We have references, including our past investor, and pictures of our past flips for reference.

     

    If you are interested in becoming an investor or a partner for an established renovation company, please do let me know.

     

    Kristen

    Property Renovation Specialists

    Knd82000@mchsi.com

    • 1 posts
    December 12, 2007 12:08 AM EST
    I`m on the verge of getting into `re-habs` myself. I learned only a few days ago of the existence of `hard money` lenders. You can do a google search for them. Since the market for selling houses is not great at the moment, the idea for me; is to rent/lease the property when it`s rehabbed. Since `hard money` lending is short-term, I`m at the stage of verifying the availability of `soft money` lenders when the time comes to pay off the hard money lenders, i.e. conventional mortgages...am not willing to put all that time & effort into rehab-ing a property just to turn it over to the hard money people when the due date comes. FYI-`hard money` is not hard to get, but rather is available for projects when `soft money` is hard to get...they get higher interest/points & is short term, but you just have to factor those costs into your numbers to make sure the equation is economicly viable. Hope this option will help!
     
    Vance Roberts
    Wizarddz "Honey-Do" Crew
    Columbus, OH
    740-263-1373
    Wizardd12/12/2007 6:10 AM