Bad credit but have some cash to invest
Q. I have been investing for over 20 years. I am looking for a partner for a joint venture. You would bring cash to the deal and I would arrange the financing, etc. I have two deals lined up. Actually I have already lined up. 1. You come up with $162,000 and some minor closing costs. The purhcase price is right near $1M. I already have a corp ready to guarentee a 6% return when the unit is ready to occupy. This includes all running costs including property management, HOA, taxes, funriture package (corp rental requires furniture). These are all in numbers. As the unit is not ready yet, the developer pays 6% on the deposit until the unit is finished. Funds are guarenteed if the developer fails or otherwise can not get the deal done. The guarentee is for 3 years. 2. Completely different. Much lower price. Off-plan purchase where we are talking about a unit that will not be ready until Q1 2006. 15% deposit to lock the price (51,000). This might be able to be reduced to 10%. The price has been knocked down by 15% as I am buying multiple units already. I can arrange all the financing after the unit is ready and the lender is happy to lend. WIth a refinance (no seasoning with the lenders I use) we can pull the deposit out soon after completion. This would mean that you would have a half interest in the property, no management responsibilities, no liability for the loan and all your cash back. You get have the discount as a paper profit from day one and great leverage after the down payment is returned to you. In both cases I do not care about your credit and if the vehicle is a corporate entity that will work just fine. These are real deals. I have already bought some for my own. I want more and need someone with the cash to make it happen. Send me an email if you want to discuss further. Feel free to ask any questions you like. I am not shy and have been investing for 20+ years.
A. Why not get the Lender involved. They could invest the upfront money and make money at the same time. If they won't do it, then there must be something wrong. .