Jerry Carmack
Hot Springs, AR (USA)
Role(s):
Ow to Wow Homes Inc
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Startup
Location:
Hot Springs
Industry:
Real Estate
Year Founded:
2007
Number Employees:
INVALID
Description:
Ow to Wow Homes Inc is a tentative name given to my business of house flipping. The funding is for the actual remodel/repairs that are necessary in order to make the house more sellable.
Due to the mortgage slump, I plan on buying houses at 50% off the fair market value. I'm forced to do this as this is a buyer's market now (that is, buying a house is easy, but selling it is more challenging). The 50% is to make sure I can make improvements as noted above, sell the house, and still make a profit (minus closing costs, etc).
The deal I can make with investors on this network is to split the profits 50/50. This way you'll get a good or decent ROI.
Bear