A few months back through my local investment club here in South Carolina, Greenville to be exact, I put together an investment team specifically designed to invest in three areas of real estate. The first is buying, rehabbing and selling properties, the second is purchasing rental properties already managed by management companies and the third area is purchasing multi-unit complexes for long term holding.
The people involved in the investment team bring unique qualities to the table, but together we don’t have enough clout to finance multi properties at the same time. Finding the properties and doing the work isn’t a problem for us. The kicker is having to rely on HML’s and then refi the properties for the rehab. Everytime we have to do another closing, it eats into our profit.
I’m looking for 3 to 4 individuals interested in creating an above average return on their investment. Average returns are 12 - 15%.
My partner and I have set a goal to become our own bank with a bank roll of no less than $250,000. This will alow us to have 2 to 3 houses going at the same time.
Thanks in advance,
Steve Lee