Brian Davis

Bethlehem, PA (USA)
Role(s):
Founder/Owner/Principal

Shurlock Homes LLC

Find More Startups Startup
Location: Bethlehem
Industry: Real Estate
Year Founded: 2011
Number Employees: 1-10 people
Business Stage: Growth (profitable)
Entity Type: Limited Liability Company
Description: Shurlock Homes was created due to the recent real estate market and the need to find a way to put good people into good homes. We are in the first stages of the Business now. A brief summary of the business plan is I am currently looking to buy cheaper homes that need very little rehab and then either have the work done so they are ready to go and sell them with owner financing or offer them out as wholesale deals. A good example. There was a home available locally for 30,000. I placed an offer on the property of 10,000 and it is going to contract on monday. I have walked through the property with a contractor who has given me an estimate of 2500 in repairs to clear all code violations and get a occupancy permit from the city. The home will then be rentable for around 900 a month. However I will offer out that property to other investors or home buyers for 45,000 with only 5,000 down at 11% for 10 years giving them a monthly payment of 551 which would leave an investor a positive cash flow of 250 a month after property taxes. Or it would give a home buyer the ability to buy a home for a low down payment and low monthly payments. After owner financing the property I could turn around and sell the note which was created for a 25% yield to a note buyer and get around 25000 for the note so would still end up almost tripling the investment. If a cash offer was made I would accept around 35000 which would still make a profit of 20,000 on a quick deal. This is just one example of a deal I am looking at or working on however I need startup capital above my own to take advantage of the current real estate market. I have hundreds of properties that I can make offers on in my criteria and I have contractors and agents ready to go. What I am looking for is Either a joint venture Partner to put up the Funds and I will find and make the deals , get the repairs done and get the properties sold unless the partner wants to work on a buy and hold principle which is also a great idea on these cheap houses. Or I am looking for Investors / Groups / Private Money or Hard Money to fund these deals. I know current rates for Hard Money lenders run around 15% per year on 1 and some 2 year terms. I am ok with this if I have too. Ultimately I would like to find investors who would like to make a 10% annual return on their money to start with the ability to increase that return as I offer a minimum of 4% no matter how fast the deal is bought and sold so if it only takes 1 month total to do a deal you would earn 4%.. Again the Real estate market is amazing to buy right now and I am great with numbers so just need funding or a financial partner. Feel free to contact me with any ideas or if you are interested. Sorry I am not looking for a company to create a business plan for me. Thanks Brian D Shurlock Homes LLC