Builder In Distress.. Oppurtunity For Partner
Oppurtunity from builder. He has agreed to release 50 residential properties (new construction) due to a financial situation. Looking for partner to joint venture with 680 fico or better, and at least 200k in assets.
For more info PM me with an email address and I will send furthure details..
There are opportunities like this ALL over the country. I get an e-mail every week covering different parts of the country - ALL the homes are new. The referring company makes their money because the builder gives them a chunk of their advertising budget to sell the homes instead of the builder.
That isnt the case here.. The bank is going to release 15mill to the qualified individual/company to take over the project.
Bank will "release" $300,000 per unit? To someone with decent credit and $200k?
Must be pricey houses and a desperate and foolish lender. Or a lot of "further details" that you should just put up front if you really want someone to take this seriously.
Chris
wow, yeah.. i mean talk about a book with a few pages missing. I know that when I read something like that, and I go, geez.. how can they do something like that? well, i know the answer is they cant, so someone forgot to fill in a little bit of information.
Chris,
Please send me a copy of your LLC agreement.
Mark
Yep, I saw it.
I agree with John Carter,
The fact is there is no near future profit to be made. I have been to Hawaii many times and it is very beautiful, but as an investment I want to see profits, not just own a piece of beach where I cannot do anything with.
And it is a very interesting thread.
Just sold this- to one of my best friends who has been there many times. Never did advertise it, other than here.
I think this is one of those things where you just have to be familiar with the location and local situation to understand the value. He sold his 10 acre farm for 1.3 million, so $2000 an acre looked pretty good...
Chris
Congratulations. I also believe it is a good deal, it just had to be something that someone with enough money could put their money in, and not care if they ever make a profit on it. Beautiful location.