Dear Investor,
Empowered Property Solutions, LLC was formed to purchase distressed properties in NY/NJ/CT in need of full rehabilitation to either resell or rent out. We are looking to either partner with an experience rehab investor with good credit (>750 score) OR an experienced private investor to assist with 20% financing at 9-12% interest that will be refinanced at the completion of the project.
Our lender has assured a LTC of 80%-85% of the total loan with 100% financing of the rehabilitation costs. In the below example, we would be looking for $28,000
As an example of a property (hypothetical example based on 80% LTC):
Purchase Price: $140,000
Renovation Budget: $150,000
ARV: $450,000
Total Loan (80%): $112,000 plus $150,000 rehab = $262,000
Investor Loan (25%): $35,000 (20% Down Payment and 5% closing costs)
In this scenario, we would be looking for $35,000 and can offer 50% of the deal to an experienced investor who can assist in this capacity. The alternative, is an investor who would like to receive 9-12% interest passively.
The loan would be personally guaranteed by our LLC. With this financing, our firm will be able to continue to grow and continue to rehabilitate distressed properties to either resell or hold for cash flow.
Thank you for your time and consideration.
Sincerely,
Peter Stieglmayr
President
Empowered Property Solutions, LLC
917-745-7516
[email protected]