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Updated over 4 years ago,
Fix n Flip JV deal, need help
I know this is kind of a shot in the dark, but I would love to hear from experienced investors who've worked with private money lenders. Without going too much into detail, I am contracted with Fannie Mae and I go to all of their vacant foreclosures when they first become vacant and begin the process of bringing it up to date and full market value. I do everything from day one when it comes to turning their gross outdated foreclosures into practically brand new homes. I do a full report and inspect everything in the home to determine what they need to do to the property. I then send it over to them with a full list of everything that needs to be updated and the amount of materials needed. They then send in their contractors to complete the rehab and update/ repair everything I requested. I then follow along the whole process to make sure all the work is getting completed on time and On budget. I then report to them when the project is complete and they immediately list the property on the market. I've been doing this for 3 years and have been in real Estate for 5 years, including my wholesaling experience. So what I'm getting at... is if I were to bring the experience I have and ability to find great off market profitable deals to a lender, would there be people out there willing to work with me by funding the deal, while I find the deals and manage the project during the process? Do I bring enough to the table to get someone to fund a flip for 50% split or even more ?(I'd even take 25% happily). This would be perfect for me, because I know I can find great deals worth their time and money and I'm experienced with managing flips and making sure jobs are completed on time and within budget. Would love to hear anyone's opinion/ advice on this. Would anyone be willing to work with me ? How could I find someone willing to structure a deal like this ?
thanks!