http://www.realestatesdirectory.net/wp-content/uploads/2011/10/100-financing-investment-property.jpgThe most difficult hurdle for acquiring housing, is buying the property without any capital. This is how we can make it happen for you. The investor puts up the equity and debt and own 99.99% of the property. They take the depreciation. A partnership is put in place. You become the general partner and investors take up to 20% of the income, the balance is divided up. Section 42 runs for 15 years with the same “owners”. http://www.kfyrtv-videos.com/UploadFile2/money%20house(7).jpg For Existing Owners The NOI (Net Operating Income) must be $1 million or over. We will look at where the current owner neglected updating. Under SEC 42 it applies to new. Existing must be owned for 10 or more year. Seller can stay in the property pickup up 10% of the revenues or 20% equity participation plus a management fee. Under Section 42 of the IRS code, the “equity group” is that group furnishing the equity and the debt. The property cannot be sold until 15 years has passed otherwise the parties have recapture income. 1. Current seller must have owned the property for 10+ years. 2. Current seller can stay in the acquisition at 10% ownership. 3. Need past 3 years Profit & Loss Statements and past 3 years Tax returns. 4. Purchase price. 5. Current rent roll. 6. Statement detailing the necessary current repairs, inside and outside (if any).
Please feel free to contact me with any questions you may have.
Calvin Butler; Founder/President
1st Choice Financial Consultants
541 East Tennessee Street Suite120 Tallahassee, Fl. 32308
Office: 850-297-9242
Cell: 850-570-6479
Email: fcfinancial@ymail.com

Views: 130

Reply to This

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service