Anyone have experience with Strandpark Properties

[Rebecca Staples]

I have an opportunity to JV with a company that has identified properties and will fix/flip. They are looking for investors. I want to make sure I will not get scammed out of my money (has happened before). How can I verify this company is legit? Has anyone worked with them before? How can I protect myself?

This is what they provided in an email:

Our team has a fixer-upper located at 103 Tropic Ct, Fort Pierce, FL 34946

This Fort Pierce home consists of 3 bd/ 2 ba/ 1,342 sqft of living space on a 7,469 sqft lot.

- Investment Duration: 30days (Investment + ROI in full)

- Return on Investment: 45%

- Purchased Price: $150,000

- Rehab Cost: $30,500

- ARV: $240,000

- Minimum Investment: $30,500

- Maximum Investment: $30,500

- End Buyer Escrow Commitment: 20%

Rehab Cost Breakdown

• Rehab Cost Breakdown

1. Kitchen:

• Demo & Prep ($2,000):
  • DIY cabinet removal, backsplash removal, and some demolition.
  • Professional for disconnecting gas lines and major plumbing.
  • Dumpster rental.
• Cabinets ($6,500):
  • Option 1: Refacing existing cabinets. New doors, drawer fronts, and hardware.
  • Option 2: Pre-fabricated shaker-style cabinets.
• Countertops ($1,750):
  • Laminate countertops.
• Backsplash ($600):
  • Basic ceramic tile.
• Flooring ($1,250):
  • Luxury Vinyl Plank (LVP). LVP options around $2-$4 per square foot.
• Sink & Faucet ($450):
  • Stainless steel, single-bowl sink.
  • Basic, but functional faucet.
• Appliances ($3,500):
  • Focus on essential replacements.
  • Refrigerator: Energy-efficient model.
  • Range: Standard electric or gas range.
  • Dishwasher: Basic model.
  • Consider deals, scratch-and-dent appliances.
• Lighting ($1,000):
  • Recessed lighting in the ceiling.
  • Under-cabinet lighting.
  • Basic pendant lights over the island.
• Paint & Trim ($500):
  • DIY painting.
  • New baseboard.

2. Living/Dining Room:

• Demo & Prep ($1,000):
  • DIY carpet removal and ceiling work.
  • Professional for electrical work.
• Flooring ($2,250):
  • LVP or good-quality laminate.
• Paint & Trim ($500):
  • DIY painting.
  • New trim.
• Lighting ($1,000):
  • Update existing fixtures.
• Drywall/Plaster Repair ($300):
  • Patch holes and make repairs.
• Window Treatments ($500):
  • Blinds.

3. Bathroom:

• Demo & Prep ($750):
  • DIY toilet, vanity, and flooring removal.
  • Professional plumber for plumbing adjustments.
• Toilet ($250):
  • Standard, efficient model.
• Vanity & Sink ($900):
  • A modest-sized vanity and sink combo.
• Flooring ($500):
• Wall Tile (Shower/Tub Area) ($1,000):
  • Basic ceramic tile for the shower/tub surround.
• Shower/Bath Fixtures ($250):
  • Update showerhead and faucet.
• Lighting & Paint ($250):
  • DIY painting.
  • Update light fixtures.
• Permits & Contingency ($3,000)

Total rehab cost: $30,500

Amount Needed: $30,500

ROI: 45% of $30,500

Investment Duration: 30days

Profit: $13,725

Total payout in 50days: $44,225

EMD: The buyer has put down a 20% earnest money deposit based on the property's ARV and they are all set to complete the purchase as soon as the rehab is done.

To find out more about our Joint Venture projects, please visit our website: http://strandparkproperties.com

We're able to guarantee the return on investment (ROI) by finding buyers for the properties before listing them on our website for possible joint venture fix and flip. The house is offered to the buyer at the ARV price, and we explain how we plan to rehab the property and its worth after repairs (ARV).

The end buyer has to make a commitment of at least 10% of the ARV, provide proof of funds, and other documents required to list the property on our website. We raise the capital for purchase and rehab through real estate investors looking to earn as much as possible in an easier way. It takes an average of 6 - 10 days to raise capital per project.

Our "Joint Venture Fix and Flip" project is designed to provide real estate investors with an easier and more affordable way of earning through real estate without having to do the work themselves.

some reasons why investing through us could be a great opportunity for you:

- Amateurs: people who are new in the real estate market are able to earn a lot of money without risk.

- Short Term: investment duration is below 60 days (Investment and ROI are sent in full).

- Affordability: Investing in real estate is affordable through joint ventures, you get to spend less flipping homes.

- Time: our project is suitable for investors that are too busy to generate an extra stream of income.

- Safety: our company guarantees return on investment on each project listed on the website.

- Refund Policy: investors can request for a refund at any given time.

- Location: You can invest from anywhere in the world.

If you wish to sponsor this project, please download our Joint Venture Contract Agreement form, fill the form and send back to us for review

Kind regards,

Matt Cornwall

Venture Analyst, Strandpark Properties

+1 (305) 824-2203