Investment -Residential Fix and Flip

1,011 Views | 4 Replies | Last: 3 days ago by The Pilot
Agilaw
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AG
I'm closing on a residential property tomorrow in North Texas. I know the property very well as I've lived near it for 20 years. Seeing if anyone has interest in funding rehab - about $60,000.00. I already have the contractor ready to go. Expect to turn the property within six months or less. Bank Appraisal and county tax assessment is already about $55,above the purchase price+ rehab costs. I'd be willing to guarantee 15% on the investment at the end of six months. Could have second lien as well if desired. I don't need the funds to complete the rehab. It will allow me keep funds free for other investments during rehab. Haven't done this before, but have seen many people over the years interested in getting in on a rehab but didn't have time or connections. I plan to start rehab at the end of the week. Feel free to pm if want more information.
KingofHazor
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If you're guaranteeing 15% w/in 6 months, you may have troubles with Texas usury laws if you structure it as a loan. Consult a lawyer.
Agilaw
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AG
I am a lawyer. That's why I said pm for more information if interested.
Jay@AgsReward.com
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Sponsor
AG
PM sent.
The Pilot
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AG
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