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$25K in 3 months

Discussion in 'Joint Ventures' started by SamPerren, Feb 3, 2017.

  1. SamPerren
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    SamPerren Member REIN Member

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    Update- Deal Colapsed for foundation issues.

    Good morning, and can you believe February is already upon us!

    I've got a great deal for you in case you missed buying something in January. I'm happy to report the last flip project you saw advertised from me is underway and while I was using and After Repaired Value(ARV) of $360K, one just sold across the street for $380K so myself and my cash investor are very happy on that one.

    Today's opportunity:
    - deal collapsed for foundation issues and address removed as per listing realtor's request
    - $270,000 needed for 3-5 months.
    - You get $25,000 upon sale in a few months.

    Motivated seller came down $75k in asking price, a flipper who ran out of money. We are purchasing for $50k under assessed value, only $199,000. Quotes received for completing the projects $70,000, however there is a significant buffer.
    Sale price around $350k possible, or rent for $2500/mo to students at university right next door.
    Lot zoning allows for adding a secondary suite as well, city planners tell me they would support a carriage house or garden suite(an additional $80K+), a similarly developed property nearby is renting for $4200 for 3 suites.


    Subject removal Feb 8th so if you want to participate and make an easy $25,000 on a 50/50 deal please reply ASAP. Also willing to assign the deal and do project management for a fee.

    call/text me 250-299-4285

    Sam

    PS

    Comparable sales and written quotes available for review upon request, please don't delay if interested. If it's not the right time for you, not to worry! There is always another deal around the corner.
     
    Last edited: Mar 21, 2017

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