Looking for a JV partner for a very lucrative deal in MA

[Tim Wilkinson]

BP investors,

So, I have a seller, very motivated, that has a two family 3,300 sf residence in Worcester, MA. The property needs complete updating, non-structural to the tune of $60,000. I am looking at a purchase price not-to-exceed $120,000. The lot will sell in the lower to mid-200s, however, the property comes with a buildable lot attached that can be subdivided. Once that lot has approved plans, it can be sold for at least $50,000. 

The owner has not haggled with me about the value of the empty lot. I came to him with a low offer because the partner I brought it to first needs to use hard money because his money is tied up on other projects. That offer will likely not be accepted. 

There are still negotiations to do and I have a fantastic rapport with the family. They responded to a direct mail campaign I use for absentee owners with equity and tax default. 

I will manage this job and self perform half the work. However, I need a JV partner on this.

Anyone who is interested, please contact me directly and I will fill you in with details. I have the costs spreadsheets, photographs, and neighborhood comps (including a realtor valuation) ready to go.

Let's make some money together and hopefully start a lasting relationship. 

Thanks all,

Tim Wilkinson