Partnership Deals
I have found two land foreclosure deals, with potential equity of 75% to 90%. Being retired & having some other properties, I am not in position to get mortgage loan on this deal. so I have decided to find investor who become partners for investing cash. Based on county assessment the available price is 30% of assessed value, and based on 2006 sold price the purchase price is around 11% of the value. What is a fair % of deal should be offered to investor who provide cash for purchase ?
The one deal is commercial zoning and another is for a lot in a subdivision in a upscale homes (800k-1200K).
I will appreciate your other advices , regarding proceedig with these deal, too
[ Edited by ashwin on Date 03/04/2010 ]
And I have some American International Group stock that I can sell to you at 11% of it value based on based on 2006 sold price. As I recommended in another post, if you get a current appraisal your argument will carry more credibility.
http://finance.yahoo.com/q/bc?s=AIG&t=5y
What state and city are these properties?
The property is in Atlanta, Georgia.
The current appraisal for the lots are at about 40-50% of the 2006 value. So the immediate paper profit will be less. But still quite substantial.
Let see how it will work better and how it will be beneficial.
Thanks for the interest, but I already found an investor. Thanks again
I am not into partnership with anyone and it will be a problem understanding deals in partnership due to the fact that it is a problem with different people.
The only thing I would add is that your e&o insurance will not cover you in the case of a law suit if your listing your own properties. E&O in my view is a waste of money any how for someone that is experienced.
I would love to go through those info links so that I can better check and learn all the procedures that are necessary and worth seeing.
The idea is not to violate any laws at all, If I would be in violation of any civil or criminal laws or even something that is unethical I would not do it.
The main question is how anyone in here has correctly flipped meth houses ? how to jump to those hurdles (clean-up and disclosure) from a business perspective, effectively and profitable.
Well all the estimates that are here are best and I do need to quite updated with this whole.