We run a property renovation company in Illinois. We have worked under several investors in the past. At this time we are looking for one investor to fund our project or to become a partner with us. We need someone to purchase the home and provide the money for the renovation. In the past how we have done it is, find a house under 40,000 (usually foreclosed)we walk through it and provide an estimate budget for repair. The investor purchases the home and supplies the funds for the renovation. We work day and night to get the property renovated and on the market before the 30th day. We sell the home for a large profit, pay off the investor and start on a new home. We would like to find someone who is willing to invest with us and make great money back for it. We would like to do several houses with the same investor, but would do just one at a time. If you are interested or wish to talk further about this .Please do let me know. Thank you for your time! (references and pictures or prior flips can be sent). knd82000@mchsi.com for contact. Or 1-815-379-4019.

Welcome! In your projects - does the investor hold the title to the property while it is being renovated?

Hi there!

We have in the past done it two ways. The most common way was for the investor to buy the home and hold the title until the house was done and ready to sell. The other way was for the investor to take a loan at the bank which the bank holds the title, but the bank has no idea who we are, as far as they are concerned the investor holds all rights to the home.

Please let me know if you have any questions.

Thanks!

Either way that is a pretty safe way to do it for the investor. I think I would make sure I had a legally binding agreement with the investor as to his obligation to share profits with you guys. There are some unscrupulous investors who would take advantage of their ownership and give you guys the short end of the stick. I have seen that happen. Eric would probably be a better contact for you on this. I will make sure he has noticed this thread.

Thanks! We do work under legal contracts, my uncle is an attorney and writes them upfor us. the problem now is finding an investor, we were lucky with our last one but it is a lot harder to find now. Thank you very much! have a great day.

Post edited by: P.R.S., at: 2007/09/05 22:47

I understand. I will keep you in mind. I do have one guy that I will forward your info to. He might be interested in working with you. Wayne