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looking to get into the real estate business?
Posted by: Ken Reed on 4/5/2017 2:53:18 PM
Funding Needed:
$250k - $500k
Category:
Real Estate / Construction
Location :
Asheville, USA
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Favorited : 0 times
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Description:
I'm am seeking a $300,000 to buy a existing apartment building and fix it up nice. I would make sure the building was already rented to capacity. all repairs would be made while tenants are living in the units. when leases were up the rents would go up. After all bills were paid the investor would receive 50% of the remaining profits monthly. After the investment is paid back the investor would receive 10% of monthly profits for the rest of their life. The investor would be totally free of the tenants and park responsibilities. I would make sure we hire our building manager out of monthly expenses before the split of profit. I would also manage the building until we hire some one. If this is a issue I'd be willing to pay the manager out of my cut of the profits.
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