James Hastings
Westland, MI (USA)
Role(s):
Founder/Owner/Principal
Eagles Wing Properties
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Startup
Location:
Westland
Industry:
Real Estate
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Not Incorporated
Description:
My business plan is to help stimulate the communities in Wayne county first, by utilizing current buyers and attracting more. Then buyer finds a REO, Short sale, or wholesale home, and I purchase it. All properties will have a predetermind repair escrow for maxium after repair value and profit. Buyer's will be a 12, 24, 36(max)month qualifiable buyers" which at that point they purchse property at predetermined value; subject to appraisal. Buyer will have land contract on home for 10yr term and predetermined downpayment. Then the land contract/note is sold to a "note buyer" for profit. Example - buy home for 15K repair escrow of 10K total of 25K into home ARV= 70K Buyer executes a land contract for 55K procede to sell "note" at 70% (38,200) 38,200 - 25,000= 13,800 profit. All deals are done on "case by case" situation.