Carlos Rivera
San Fernando, CA (USA)
Role(s):
Founder/Owner/Principal
Adroit Management Group
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Startup
Location:
San Fernando
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
My Real Estate Investment company purchases distressed real estate. Our business model was focused on individuals facing foreclosure. However, being a licensed real estate agent (Lic.# 01715259 - ph818`332`1686) has allowed me to form relationships with a Lender/Bank Clearing house supplier who provides custom real estate packages for our Keller Williams Realty (in Burbank, CA) clients.
My company is expanding and refocusing it's business model to the purchase properties in bulk for immediate resell. These packages range from $2M and up (plus fees & closing costs); consisting of 8-14 properties in the San Fernando Valley. Our goal is to accomplish as many transactions before the real estate market shifts (expected in late 2010 to early 2011). We are in need of a funding source that can lend quickly and appreciate having risk spread over multiple properties, instead of single unit. We plan on purchasing these portfolios at 50 cents on the dollar (3% purchase fees + 47% property value). To ensure a fast sell, we plan on selling the properties at 95% of market value; with an expected hold time of less than 45 days.