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    5 Replies Latest reply on Feb 8, 2008 10:06 PM by CEO Space

    Proposal For Working Capital

    verse2101 Wayfarer

      Real Estate Proposal

       

      Christopher J. Williams

       

      Williams Living Innovations

       

      6741 N. Hermitage 2N

       

      Chicago, IL 60626

       


      We will find a client who owe taxes on a unit worth $100,000.00 or more and offer to pay his/her taxes for them, also give them extra money worth 20% of the market value of the unit collectively. As shown in figure 1

       

      Figure 1
      Appreciated Value\\$100,000.00\\\\
      Taxes including penalty\\$5,000.00I will pay the taxes directly
      Client Receives\\$15,000.00\\\\
      \\\\\\\\\\
      I lose\\$20,000.00\\\\
      \\\\\\\\\\
      I sell the unit for 60%\\$60,000.00\\\\
      My sub total\\$40,000.00\\\\
      I will sell 10 units\\$400,000.00\\\\


      In order to make this happen, I will need a loan of $200,000.00 to secure the property. I am willing to get this loan at a twenty percent interest rate. It will be paid by the end of the twelve month period of the contract. So, the bank will receive $240,000.00 by the end of the contract. I am willing to take on a partner to help me get this amount of money and split the profits with him/her.

       


      My partner (if I need one) & I should be looking at $140,000.00 as profit. I will get at least $70,000.00 to record on the books as income. $20,000 will be used to rehab any property that is in need of it.

       


      This is my proposal and I see that it is a binding document that is used to fuel this project.

       


      Sincerely,

       

       

       

      Christopher J. Williams