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Real Estate Management Start-up Seeks Funds
Posted by: Angeline Teets on 1/30/2012 5:13:06 PM
Funding Needed:
Under $100k 		Category:
Real Estate / Construction 		Website :
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Location :
Washington, DC, Washington, USA 		Viewed : 263 times
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Description:
We are looking to start a real estate management business but the lack the liquid funds to invest in our first property. We are interested in buying multi-family properties (2-5 units) and renting them out on 6-month and 12-month leases. We're restricting our initial search to properties that are already partially or fully rented and are located in sought-after areas of Washington, DC.

We are seeking a short term loan (secured or unsecured is fine with us) that will cover the cost of the down payment and closing costs for the purchase of our first property. The repayment terms and interest rates can be negotiated but we are looking to have it paid back within 3-5 years. The maximum amount that we would require would be $83,000.

About the partners:
One is a an office manager who is responsible for billing and accounting. The other is a former attorney who has previously acted as a landlord for 3 consecutive years. We currently own our own primary residence, have never defaulted on our loans or mortgages, and have near perfect credit (this can be verified by credit check). While we are initially seeking help for only one property, we do have a business plan and would eventually like to own 5-10 properties at any given time.

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