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    0 Replies Latest reply on Oct 22, 2008 5:24 PM by Renovate

    LOW INCOME HOUSING has not been Effected Safe Haven 4 $$

    Renovate Newbie
      • Good Day, *
      * I seek an investor to fund the Acquisition and Renovation and conversion of a Three (3) story Row house in Baltimore into a Three (3) Unit Apartment Building to be rented or sold to Section 8 tenants. The investor will hold a 1st mortgage on the subject property based on eighty (80%) percent of the appraised value of the subject property. The investor will earn 12% percent simple interest for the renovation period which will not exceed 1 calendar year at which time a new mortgage will be originated to take the investor out. *<br /<br />*In addition to the interest earned the investor will receive 45% of the gross profit. Should the investor wish to stay longer the return will only increase. Please see the example below. * <br /<br />*|*Description and Your Investment*|$100,000.00|
      A.) Acquisition and Renovation Only
      1.) After Repaired Value (Based on Independent Appraisal)$150,000.00
      2.) Renovation Budget$105,000.00
      3.) Gross Profit Before Taxes$ 45,000.00
      A1.) Your Return
      1.) 1 Years Interest Income ( 12% Simple)$ 12,000.00
      2.) Your Portion of Gross Profit (45%)$ 20,250.00
      3.) Return of Principal Investment$100,000.00
      Before Tax Return$132,250.00
      B.) Your Gross Return If Held 5 Years
      1.) 5 Years Interest from New 1st Mortgage$ 26,389.62
      2.) Appreciation in Value (5% per Year)$ 16,875.00
      3.) Rental Income *(3 Units) Section 8$ 76,950.00
      4.) Return of Principal Investment$100,000.00

      |*Combined Gross Return Before Taxes*|*$220,214.62*|*Time is of the essence please email or telephone for additional information or questions you may have at (443)-881-3139