Jeff Mendenhall
west frankfort, IL (USA)
Role(s):
Founder/Owner/Principal
JMC
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Startup
Location:
west frankfort
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
To purchase property with the purpose of holding. I plan to purchase approx. 10 properties(bulk deal) in a lucrative metro area and finance the property to qualified individuals. Properties will have balance due in 3-5yrs depending on property with an initial finance price 15-25% above purchase price with interest only payments during term. After preliminary phase is complete additional properties will be added using current properties as. Looking for initial investment of 1M to purchase a min. of 10 properties, depending on negotiating more are possible. Current figures based on 10 homes, using 1M in capital, and 9% interest only would total a net profit of approx.150k-250k profit on purchase-sale price and 270k-450k in interest. If initial funds are obtained in lieu of profit sharing, then the total return for 3-5yrs would be 50% 0f 420k-700k or 21-35% during phase 1.