daniel baker
minneapolis, MN (USA)
Role(s):
Founder/Owner/Principal
Pheonix Property Group
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Startup
Location:
minneapolis
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
Small startup company looking to purchase a multifamily complex in Minneapolis, MN. Company is looking for startup capital secured by tax value of the property. (Price paid for the property would be less than tax value).
Company is either looking for full investment of property or 20% of the purchase price in order to secure a commercial loan. Investor would receive percent of gross income for set number of years mutually agreed upon by Investor (lender) and company owner or Investor capital would be treated as conventional line of credit at a mutually agreed upon percentage rate with non buyout clause.
Other financing options will be given careful consideration.
Properties are already found for Investor review. Some $100,000.00 under tax value generating over $100,000.00/yr. in gross income.
Company is also looking for capital for renovations on some properties. Average renovation costs $50,000.00. If company does not have this money the income generated from the property would allow us to renovate each unit independently on a month by month basis.
Company would be holding the property for a length of at least 3yrs. and not to exceed 6 yrs.