Akis Validis
Astoria, NY (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
PROSTASIA
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Startup
Location:
Astoria
Industry:
Investing
Year Founded:
2006
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Tax Liens/Deeds Fund
Our intent is to spend $50 to $75k for legal and accounting expenses to create a tax liens/deeds fund that by charter could invest in other areas as well like REOs, commercial real estate etc. This kind of fund is called an "opportunity fund" and it falls outside SEC regulations.
I have an excellent team into place with years in tax liens/deeds investments that have actually also created a secondary market for these investments (the first to ever be created) and they currently have a tax liens/deeds broker firm. They will be the ones managing the fund. We expect to give investors a 10% to 14% steady return and maybe more if we diversify into REOs.
For REOs we have identified an excellent company with an excellent track record that invests primarily in Florida and they currently bring 70% to 100% yearly to investors investing and flipping REOs. They also have their own construction company doing the rehab work themselves.
This fund is a very low risk, but with impressive returns that we feel is ideal for today's turbulent markets and times. With minimal investment we can also enjoy a steady 2% from all invested funds. For example from a $100 million fund, we can earn as fees $2 million per year.
Also, after performing well for 1-2 year we can diversify into other specialized funds and really go for bigger and bigger rounds of financing.
Also, we come accross some incredibly cheap properties and sometimes we need financing to proceed