Post a new topic
    2 Replies Latest reply on Oct 23, 2008 12:28 PM by Renovate

    I need a Liquid Investor For Pre Leased LOW INCOME Housing

    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|

      <table class="jive-wiki-table">
      <tr>
      <td>A.) Acquisition and Renovation Only</td>
      </tr>
      <tr>
      <td>1.) After Repaired Value (Based on Independent Appraisal)</td>
      <td>$150,000.00</td>
      </tr>
      <tr>
      <td>2.) Renovation Budget</td>
      <td>$105,000.00</td>
      </tr>
      <tr>
      <td>3.) Gross Profit Before Taxes</td>
      <td>$ 45,000.00</td>
      </tr>
      <tr>
      <td>A1.) Your Return</td>
      </tr>
      <tr>
      <td>1.) 1 Years Interest Income ( 12% Simple)</td>
      <td>$ 12,000.00</td>
      </tr>
      <tr>
      <td>2.) Your Portion of Gross Profit (45%)</td>
      <td>$ 20,250.00</td>
      </tr>
      <tr>
      <td>3.) Return of Principal Investment</td>
      <td>$100,000.00</td>
      </tr>
      <tr>
      <td>Before Tax Return</td>
      <td>$132,250.00</td>
      </tr>
      <tr>
      </tr>
      <tr>
      <td>B.) Your Gross Return If Held 5 Years</td>
      </tr>
      <tr>
      <td>1.) 5 Years Interest from New 1st Mortgage</td>
      <td>$ 26,389.62</td>
      </tr>
      <tr>
      <td>2.) Appreciation in Value (5% per Year)</td>
      <td>$ 16,875.00</td>
      </tr>
      <tr>
      <td>3.) Rental Income *(3 Units) Section 8</td>
      <td>$ 76,950.00</td>
      </tr>
      <tr>
      <td>4.) Return of Principal Investment</td>
      <td>$100,000.00</td>
      </tr>
      </table>

      |*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