Please sign in to post in this forum.

ForumsHome Based Business

Up to All Forums

This Question is Not Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)
Post a new topic
2 Replies Last post: Feb 11, 2008 4:00 PM by puzzleman

Investors needed for "Flip it" style rehabilitation project

Apr 10, 2009 3:10 PM

Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
Remedial Rehabilitation has already contacted the realtor, city government, inspectors, and other contractors for estimates and proposals. The mayor has agreed to meet and look over proposals for the project. The only thing that's missing are investors for the initial purchase of homes which are available at prices of 9,000-15,000 with minimal defects. The offer from the city is to purchase blocks of homes and create a gated community style of living without the cost of new construction. Need $150,000 to start and the sale of each home (prescreened, preapproved applicants) will fund the continuation of the project.
Tags: online, personalized_products, online_store, online_home_business, customized_products Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,926 posts since
Aug 6, 2007
1. Re: Investors needed for "Flip it" style rehabilitation project Apr 10, 2009 5:01 PM
in response to: vijoseph
Investors needed for "Flip it" style rehabilitation project, Welcome Vi Joseph

Tell me more. How long have you been in business??

Do you have a Business Plan that I can read??

LUCKIEST
Report as inappropriate
Click to view phanio's profile Mogul phanio 474 posts since
Apr 7, 2009
2. Re: Investors needed for "Flip it" style rehabilitation project Apr 11, 2009 10:07 AM
in response to: vijoseph
Can your city offer any financing - they usually have economic development or HUD money for these types of things?

Business Money Today
Report as inappropriate
Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
3. Re: Investors needed for "Flip it" style rehabilitation project Apr 11, 2009 10:30 AM
in response to: phanio
The city is ready for any change, but I can't talk if I don't have solid investors. They want to think that there is going to be an actual project taking place not just talk. They have some money and we have modeled some of the project after HUD funded initiatives, they will probably support us with a minimal cash input.

We are in need of a proposal specialist to find and apply for HUD grants and partnerships for rebuilding communities.
Report as inappropriate
Click to view 9pwmhy's profile Professional 9pwmhy 5 posts since
Jan 28, 2009
4. Re: Investors needed for "Flip it" style rehabilitation project Apr 12, 2009 8:45 PM
in response to: vijoseph
Hi I am interested to see what you have can you email me so we can talk Thanks
Report as inappropriate
Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
5. Re: Investors needed for "Flip it" style rehabilitation project Apr 15, 2009 3:07 AM
in response to: 9pwmhy
filmfantasywisconsin@yahoo.com
Report as inappropriate
Click to view BobbySimons's profile Authority BobbySimons 10 posts since
Mar 16, 2009
6. Re: Investors needed for "Flip it" style rehabilitation project Apr 16, 2009 7:18 PM
in response to: vijoseph
In a declining real estate market, why are you confident that you have any idea what the final homes will be able to sell for?
Report as inappropriate
Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
7. Re: Investors needed for "Flip it" style rehabilitation project Apr 17, 2009 2:56 AM
in response to: BobbySimons
We did an informal survey and study that would allow the project to pre-select pre-approved applicants for home ownership. This process will take place on a ongoing basis. We have found that the median income of some applicants can support the possibility of home ownership. The cost of the properties and the cost of the rehabilitation process is boosted by the lack of jobs but the abundance of skilled workers and a real estate agent who knows exactly what we're looking for and won't waste our time trying to force our hand. If we put 10,000 into a home that was purchased for 10,000,the options on the sell price is very flexible. In the market we propose to begin the project in, we could sell homes at 40,000-50,000 per home and still turn a great profit without losing cash flow. The average mortgage would be around 567.
Report as inappropriate
Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
8. Re: Investors needed for "Flip it" style rehabilitation project May 1, 2009 12:07 PM
in response to: LUCKIEST
I can send you a proposal. If you are still interested in the project.
Report as inappropriate
Click to view vijoseph's profile Professional vijoseph 6 posts since
Apr 10, 2009
9. Re: Investors needed for "Flip it" style rehabilitation project May 1, 2009 12:10 PM
in response to: vijoseph
Still interested?
Report as inappropriate

More Like This

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read