Nancy Horanzy
East Granby, CT (USA)
Role(s):
Founder/Owner/Principal
Sterling Investment Properties, LLC
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Startup
Location:
East Granby
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
Sterling Investments Properties, LLC, was formed in 2008 to acquire multi-family properties as well as apartment buildings in emerging markets and middle class neighborhoods to provide single-parent families, small families, and young couples with a comfortable, clean, yet an affordable and safe place to live. The company's goal for 2008 is to acquire 50 units with a positive cash flow of at least $3,000 per month. The acquisition goals for 2009 is 200 units; and 2010, 500 units. In order to do this, capital needs to be raised to fund the down payments on these type of properties above and beyond SIP's working capital, which has already been secured. Additionally, SIP will also look to acquire and resell with it's capital funds, properties that are bank-owned or can be required under market value as another source of capital to assist in the funding 2009 and 2010 property acquisitions.