Dallas-Fort Worth Real Estate Investor Club

$210,000 ARV

  • 17 Aug 2012 4:22 PM
    Quote
    Message # 1050032
    Steve Labus
    I'm looking for a funding partner for a nice 1989 built property in a great Grapevine sub-division. I have the property under contract, provided POF as required but would like to keep some of my funds liquid. The property has an ARV of approximately $210,000. Low DOM in this area. Willing to give first lien position to partner even without providing the majority of required capital.  This is a rehab/flip opportunity. Reach out to me if interested. 

    Steve 214-769-2186
  • 18 Aug 2012 6:23 AM
    Quote
    Reply # 1050279 on 1050032
    Robin Carriger (Administrator)

    How much money are you seeking from a funding partner on this deal?
  • 18 Aug 2012 8:35 AM
    Quote
    Reply # 1050320 on 1050032
    Steve Labus
    I need $60k to help fund the remaining balance and rehab. It's a nice area therefore the rehab will be a higher end rehab w wood flooring, granite landscaping etc. The property has a nice pool which I normally shy away from but in this neighborhood it's a good selling feature. The location is 1901 Saddle Ridge, Grapevine.

    Steve
  • 19 Aug 2012 2:09 PM
    Quote
    Reply # 1050926 on 1050032
    Deleted user
    Did you find someone for the loan you needed?
  • 20 Aug 2012 6:35 AM
    Quote
    Reply # 1051410 on 1050032
    Deleted user
    Steve,

    I might suggest you post a mini-deal summary (ARV ='s ?, R ='s ?, AVG DOM ='s, Loan Terms [Term, Points, Trash Fees, APR ='s], etc.) the same as you would deliver if you were working with a bank or hard-money lender. I suspect you'll find a better reception than "Hey! Loan me some money."

    While some of us know you are a "good guy," most readers here don't know you. Remember, we have a mailing list of almost 30K people now and our user-base for the site shows logons from all around the world.

    -Greg

    Greg Wilson
    The REI Mentor
  • 20 Aug 2012 10:05 AM
    Quote
    Reply # 1051534 on 1050032
    Steve Labus
    Good input Greg! Thanks! I have received a verbal commitment from a funding partner for this deal. I appreciate everyone's interest!

    Steve
Powered by Wild Apricot Membership Software