Christopher Puckett

Pueblo, CO (USA)
Role(s):
Founder/Owner/Principal

C.L. Puckett Investments

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Location: Pueblo
Industry: Real Estate
Year Founded: 2008
Number Employees: 1-10 people
Description: I began the process of buying single family homes for the purpose of rental income properties. I then lost my job, and under traditional lending restrictions I can not obtain another mortgage to purchase any more homes without employment. I need another 10 single family homes or 3-4 multi-family or apartment complexes to replace my lost income. I am seeking funding to be able to purchase forclosed and/or distressed properties in my area. The median price range of the homes that I am interested in is around $50,000. I am also in need of funding to make repairs and upgrades to these properties. Average repair costs are around $4,000.00. I have a great realtor who is able to find properties with a minimum 20% equity in these properties. Some of these properties are very badly damaged, and being sold extremely cheap by the banks. One example is a 3 bedroom that needs all new carpet, drywall, kitchen, bath and furnace, that is being sold for $12,500. Repair cost is approximatly $18,000 to $20,000, and it is appraised at $65,000 after repairs are made, and can be rented for $600 per month. This house is the most extremely damaged that I have come across, and I have veiwed several. I only consider homes that, after repairs, can be rented out for $200 monthly profit. Rental range is $500 to $700 per month depending on the location of the home. I target low income and lower middle class areas in my town. I am also established with Colorado Dept. of Housing so that I can rent out to low income people with housing assistance in the area. I would like to be able to expand into multifamily and apartment dwellings in 2009. My mission is to provide quality low and median income housing in my area for those that need it, and create wealth for myself, my family and my investors. My goal is to acquire 15 to 20 properties by the end of 2009, and obtain an income of over $150,000. If you can, and are willing to loan to, or invest in me, I can be reached at (URL removed), email me any questions or request for any other information you may have.