First, we want you to have the deal under contract.
Second, we do not invest in properties you will live in. It has to be non-owner occupied.
Third, we work with companies (corps, llcs) no trusts or estates, and no private owners.
Next, does your property fit these criteria?
- single family homes under 2800 sf
- or no more than 4 unit multi-family properties less than 2800 sf each.
- 5 bedrooms or less (per unit)
- 1/2 acre or less
- resale price that is under your area’s FHA cap.
All good so far? Great! Now for the overview of the nuts and bolts.
We will need a signed agreement. We can structure this investment in a variety of ways, from profit taking when you complete the rehab (if that’s what this is) to ongoing payments to an up front fee. This will be done by mutual agreement.
We will need to see your contractor bid if you are doing a wholetail, fix and flip, or fix and hold on this property.
We will need to know
Estimated After Repair Value (ARV)?
Did you make an earnest deposit? How much and who has it?
Do you have a contractor’s bid for the rehab?
What is the address of the property?
How many units (SFH, duplex, triplex, etc)
Property Type (Residential)?
Number of bedrooms?
Number of bathrooms?
Total square footage?
Total lot size?
Your scheduled closing date?
Title company you are closing with?
Credit score (may or may not use, depending on loan structure)?
Cash reserves (can you cover your expenses on this property for 3 months?)
What is your business name?
How many properties have you flipped in the past 24 months?
Do you plan to hold or sell this property?
REMEMBER – we do not invest in property you intent to occupy!
We like transparency. Don’t feel overwhelmed, we will work with you to get the information necessary.
We look forward to learning more about your deal!