I am an experienced real estate investor looking for a financing partner for fix and flip projects in La Jolla/San Diego, California.
I would like to share with you a few things about me.
My FICO score is 760 and D&B PAYDEX 80.
We are in fix and flip energy efficient residential real estate business looking for investors to grow the business. We have started a company called Vesper Partners LLC to focus on "fix and flip'' single family real estate projects primarily in La Jolla and the coastal areas from Point Loma to Carlsbad in California. We are concentrating on buying "ugly houses" working with wholesalers and several real estate brokers. We have secured contractors and several lending sources for the 1st mortgages of 80-90% LTV and 100% of rehabbing costs.
We are looking for private money lenders for down payments (2nd mortgage) to purchase several properties and offer these lenders guaranteed interest of two to four times higher (2X to 4X) than the 1st mortgage interest.
Our multi-year business plan is based on buying and rehabbing 3-6 properties in the first year and growing each year to over $25 Million in 3 years. We have been involved in real estate for years as a side business and now want to concentrate on it full time.
Below is my short background.
I have a graduate degree from MIT and have been a CEO of several technology companies over the years. The companies varied in sizes from start-ups to over $130 Million in sales. I started and built the start-up Gigatek to over $90 Million sales in 5 years.
I have been involved with real estate investing for many years as a side activity and had purchased properties for approximately $1.5 Million, subsequently selling them for approximately $4 Million.
Below are a few projects we have purchased and sold over the years:
1. Purchased six rental units for $60K, rehabbed, raised rents and sold it for $500K.
2. Purchased a single-family house for $63K, rehabbed, converted it to a two family house and sold it for $225K.
3. Purchased a single family for $225K, remodeled and sold it for $450K.
4. Purchased six rental units over three years, rehabbed, raised rents and sold them with profits.
5. Purchased a single-family house for $585K, remodeled and sold it for $2.7 Million.
Please feel free to contact me with any questions or comments.
I look forward to working with you and your lending/investor partners.
Thank you,
Andrew
Andrew Wrubel
Managing Partner
Vesper Partners, LLC
858-344-3678(M)
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