STEPHEN IU
DALLAS, TX (USA)
Role(s):
Founder/Owner/Principal
IU
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Startup
Location:
DALLAS
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
I have recently begun investing in real estate by purchasing and remodeling foreclosed properties. I have completed two properties (one appraised at $73,000 and another one should be about $60,000) that I own free and clear; generating $1700 per month rent.
My next project has a purchase price of $68,000 (need funding to close by Oct. 10, 2008); and an estimated remodel cost of about $30,000. The projected selling price should be above $150,000 after rehab.
How can I use the two properties as collateral to get $100,000 to start and complete this new project?