Demelash Mekuria
Villa Rica, GA (USA)
Role(s):
Other
Demo Enterprise
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Startup
Location:
Villa Rica
Industry:
Real Estate
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
We are a start up company looking for funding in order to take advantage of the deals present in Real Estate in Atlanta Georgia, concerning residential and multifamily properties. There are numerous deals in Atlanta, and we are surveying properties that has multiple units and has an overall good ROI however listed for sale via bank owned REO or private owner. The specific properties we are evaluating are not properties where rehab cost have overwhelmed the previous owner but where expansion and other reasons persist to force the user to sell. There are numerous deals that have a great ROI and provides substantial cash flow.
For residential purposes, we are evaluating purchasing foreclosed residential properties that have little to no rehab needed however are in foreclosure due to the financial precariousness of the previous owner. These houses are in good shape and are significantly marked down. The range we are looking into is for houses that once sold in 2004 for $120,000 but are now selling for a listed price of $60,000 to $70,000. I believe that with the proper negotiation, that price can be driven down further. Once acquired the property would be either sold quickly for a profit or rented for a cash flow earning interest greater than what a bank can provide.
In conclusion, we are looking to turning over private property however in this economy cash is king. What we provide is the proper management, and insight to turn these properties into a profitable aspect for revenue and interest accrual. What we propose to investors is a 5% return on any cash placed for investment once that capital is used to purchase or acquire property. The 5% can be annually if the property is rented or at once when sold. If interested please contact us. Thanks.