Need JV partner for Hollywood Hills fixer

[Kyle Tanner]

Hey Everyone.

All my cash is tied up in other projects, so looking for a JV Partner on this one.  My Agent found a really nice designed REO home in Hollywood Hills.    The former owner was trying to build himself and went to REO status.  

Its a 3 story beautifully designed Hollywood Hills home, reported about 2800 - 2900 sq ft.

Walls are up, looks like all electrical is in, plumbing is in, just needs to finishes (paint, floor, kitchens, baths, lots of landscaping).

MLS has asking at 846k.  Agent told me asking is 765k, so trying to get the "real" numbers.

Agent feels needs 225k in rehab.  I think it needs more since it will be an amazing property, around the 400k range.

We both agree comps dictate an exit of 1.4

I need a financial partner to come in with 100% plus rehab $ and we can do a split on the back side.

[e-mail]

[Russell Mallory]

I not only represent a fund, the owner of the fund is a personal friend that has allow me to market and underwrite their program; first this is not a line of credit or an joint venture with a 50/50 split. This nationwide program is a swift solution (3-5 day to fund) for real estate investors with no advance fees to worry about. Thank you, I welcome working with you.

 

    Lending for Real Estate Investors Nationwide (Short Sales, REOs, Auctions)

 

• 100% of the Purchase base on a 60% ARV
• Property Types: 1-4 family, wholesale purchases, short sales, REO, Multifamily, Mixed Used
• Terms: 12 Months Interest Only with No Pre-Pay Penalties
• Fico 650, experience will always trump your fico or your financials
• Rate 10% to 13%, no monthly payments
• No tax returns or Bank Statements requirements
• Points 2-3, points that can be rolled inside the loan
• Loan amounts: $50,000 to $5M
• The loan can be refinance or flipped: No Pre-Pay Penalties
• 24 hours for an email quote
• Contract issue the same or next day
• Funding: within 3-5 days

 

Resume, 1003, Breakdown of the rehab, recent appraisal or BPO or comps

 

 

 

 

 

Have a Powerful Day

George R. Mallory,

VP of Finance, Underwriter

Mobile: [phone]

Fax: [phone]

Email: [e-mail]