Stephen Carver
Brighton, MI (USA)
Role(s):
Founder/Owner/Principal
S.R. Real Estate Advisory, Inc.
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Startup
Location:
Brighton
Industry:
Real Estate
Year Founded:
2006
Number Employees:
1-10 people
Description:
Dear Investor and Friend:
I am a licensed real estate broker in the State of Michigan, specializing in single-family residential real estate investments, and am seeking a passive investor(s) willing to lend or partner on some deals; single, multiple, or blocks of single family inventory. It is a remarkable time to buy some equity / create income.
Being in the business since 2001, I have great experience with the foreclosure sheriff sales, county tax sales, bank note sales, and importantly today, relationships with various REO listing brokers that I have been successful with in the past. My goal is to acquire and assemble a quality portfolio of real estate investments with one or more investors. I prefer suburban areas in Wayne, Macomb, and Oakland Counties, in the $90K to $125K after-repaired retail price range, with PITI payments being in the $800 to $1,000 per month. I only buy minimum 3 bedroom deals, with a basement, most having a garage.
From 2001 thru 2005, my partner and I were able to purchase, renovate, and retail single-family deals in a 3-6 month time-frame, on average, and we did at least 20+ properties per year. Since 2006, We have redefined our niche, adjusting to the market by marketing ‘Rent to Own’ properties, doing our own underwriting of land contracts and lease w/ option to purchase agreements, with legitimate W-2 employed collectible people that earn at least $36,000 per year, most having a fair to good chance of purchase with some credit repair oversight in the 12-24 month time-frame. The ultimate goal is to achieve mortgage financing for the buyer. In 2006 we had an inventory of over 20 updated move-in condition properties listed for sale, and near all are either sold or occupied under land contract and lease w/ option agreements. Most deals are 12-18-24 month land contracts, with the remainder being lease/options, and some straight leases, putting our turnaround time in the 1-2, possibly a 3 year time-frame.
I have a great track record, high expertise, and an established organization for the acquisition, renovation, and bookeeping supporting the property management functions.
I can offer a minimum of 12% annual return on your investment, or have a profit-split agreement, either in a first mortgage, or equity-title-ownership position. I am open to any reasonably structured deal. I would prefer that the investor put up the purchase and improvement money, and have a minimum term of 24 months. Once renovated and sold under land contract or lease w/ option, the Investor shall receive their minimum return, or all of the income received monthly toward repayment of the principle loan. The investor gets their money first. It typically takes 3-6 months to renovate and sell/occupy a property, depending on the renovation.
Historically, I used to purchase and improve for a total of say, 60% of after-repaired value, and today I am able to purchase and improve the same deals at about 40% of after-repaired value, and with less difficulty. You can get into the deal from the initial purchase-before the renovation and lease-up, or you can get into a deal that we’ve done recently, which is already cleaned up and occupied. It may make sense to get into a turnkey completed and occupied deal which will help show the type and quality of improvements, which is truly what creates value and sells deals.
Most importantly, I am an honest and successful business person, and am seeking to expand my business and relationships.
Sincerely,
Stephen R. Carver, MBA, Broker, Investor
S.R. Real Estate Advisory, Inc.
Founder/Owner/Principal
S.R. Real Estate Advisory, Inc.
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Service Provider
Location:
Brighton
Description:
Dear Investor and Friend:
I am a licensed real estate broker in the State of Michigan, specializing in single-family residential real estate investments, and am seeking a passive investor(s) willing to lend or partner on some deals; single, multiple, or blocks of single family inventory. It is a remarkable time to buy some equity / create income.
Being in the business since 2001, I have great experience with the foreclosure sheriff sales, county tax sales, bank note sales, and importantly today, relationships with various REO listing brokers that I have been successful with in the pas
Services Provided:
- Project Management
- Sales Consulting
- Real Estate