Monday, June 8, 2009
75% Annualized Rate Of Return (Haltom City)
I have a property that needs to be rehabbed. The property is a 4/2/1 2200 sq ft home located in Haltom City. I currently have a Mortgage of $40K, this is the only debt owed on this property. The property needs about $20K in repairs. The tax value is $116K and the ARV is about $110K - $120K. I am looking for somebody to fund the repairs, the $20K, which would be secured by a 2nd lien. The return on this investment would be 25%, for a 4 month period, which calculates to an annualized rate of return of 75%. So the investor would get back $25K for their $20K investment. This investment would be kept in an escrow account and draws would be paid, to the contractor, as they complete specific stages of the rehab. The repairs will be completed in 2 - 3 weeks. Once the repairs are complete I am looking for a quick sale, so the sales price will be well below market value. If the sale is not finalized in 4 months, after the funds are invested, then I will add $1K to the return for every additional 30 days. If this is something that might interest you please respond, via e-mail, and I will get back to you promptly. I am open to any other arrangement that might be beneficial to all parties. Thank You for taking the time to read this ad. I hope to hear from you soon. Thanks.
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