Looking for a "Credit Partner" for a BLOC or (preferred) a Funding Partner for a low dollar vertical market opportunity in Florida.

In Florida, there are a large number of "upscale" snowbird mobile home parks. In a hardship situation, you can purchase a home (usually from the surviving family member for around $ 7,500, rehab it for 5K to 8K, and put it on the market and sell for around $ 30,000 to $ 35,000.

I own a Brokerage and am going through licensing to become a used mobile home Broker to take advantage of this market opportunity. I have contractors that are skilled in this type of housing, and am an Engineer, so walk through inspections and "scope of work" are not a problem. I have done these in the past, but they were done on behalf of investors where I got paid as the Realtor, but would like to grow this vertical business.

 My wife and I are Cancer survivors who used everything to pay medical bills and we are trying to restart from square 1 with the advantage of being an investor and rehabber since 2005.

We are seeking a "Funding Partner" who would be willing to invest $ 20,000 into a JV deal on one of these... We would acquire, rehab, list and sell, pay back and split the profits... and if the partner wants to... do it again and again to help us get back to having a life after our ex-President cancelled our health insurance. An alternative would be a person with a fabulous credit score who would help with obtaining a Business Line of Credit that would be used to purchase and rehab, and after the sale... receive a check, and then repeat.

Thank you,

John Rogers

 

God Bless...

Views: 123

Reply to This

Replies to This Discussion

John, 

Due to your post for a loan, am contacting to know if you are still interested in funding? 

Looking forward to work with you. 

You can contact me directly at 

Mr Guillermo Munoz 

www.trustedloancorps.com

info@trustedloancorps.com

guillermo.munoz@trustedloancorps.com

Thank you for the reply Guillermo, but I believe this would be a better fit for a person vs. a Company because the dollar amount is so small....

We can do these quickly and even furnish them is the market shows the need.

Attachments:

I greatly appreciate your response, Todd.

However, as I stated, we have "short term financial issues" that will prevent us from doing "traditional" lending based on what happened to our credit score.

If your loan packages are tied to the ARV, and not to a credit score, we should talk.

If you have 20% I can fund acquisitions and 100% of rehab all in one loan.

Loan amount must be 100K acquisition with rehab included. 90% ARV

Int rate 12%

Orig 4 pts.

Int only payments  / 12 months / No PPP

RSS

© 2020   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service