Mandy needs a mil......$$$$ [Archive]

Mandelon

08-09-2006, 04:51 PM

Anybody got a 1.25 million they can loan on a project for a few months? Trying to squeeze out a condo conversion project next to USD. Even at blow out prices there is still money to be made. Work will be done in 45 to 60 days, figure 30 - 45 days market time and 30 more to close escrow.....
They are five, two bedroom 1.5 bath split level units walking distance to the University, 5 minutes to the beach, near trolley stop too. They appraised at 365K when we started and should be still worth close to that but even if we had to sell them cheap, with 5 units at $329,000 or $349,000 we can still make some $$$$$
Any interest let me know......

blown dough

08-09-2006, 04:55 PM

I may indeeed be interested, PM me with some more specifice details.

shueman

08-09-2006, 05:07 PM

Anybody got a 1.25 million they can loan on a project for a few months? Trying to squeeze out a condo conversion project next to USD. Even at blow out prices there is still money to be made. Work will be done in 45 to 60 days, figure 30 - 45 days market time and 30 more to close escrow.....
They are five, two bedroom 1.5 bath split level units walking distance to the University, 5 minutes to the beach, near trolley stop too. They appraised at 365K when we started and should be still worth close to that but even if we had to sell them cheap, with 5 units at $329,000 or $349,000 we can still make some $$$$$
Any interest let me know......
Nice find....what's the projected venture cap return...??

Kachina26

08-09-2006, 05:25 PM

Let me check between the couch cushions..............................

YeLLowBoaT

08-09-2006, 05:29 PM

I have some contacts for you... just drop me a pm.

Froggystyle

08-09-2006, 05:39 PM

Anybody got a 1.25 million they can loan on a project for a few months?
Damn, if only I had known about this before I started a boat company...
I would lend it to you Mandy but I just bought a Rhino and exhausted most of my available resources... maybe next time... ;)

NashvilleBound

08-09-2006, 05:41 PM

Send whatever info you have on this project to me if you can. If its really a good investment we can be out there within 24hrs to close. All cash......not greenbacks....so no smart comments. Always looking for another investment.
Taking another look...1.25 to purchase, are you updating these units? What is the cost? Sales to be @ $340k ea? Thats only 1.7gross...minus commissions and fees....I dont see it. Maybe I am missing something. That only leaves approx $400K profit at best.

Hot4McGraw

08-09-2006, 06:39 PM

Sure Hon, whatever you need.....I'm here for you :)

Kilrtoy

08-09-2006, 06:45 PM

If you would have asked before last weekend, I would loan it to you,But I filled up the boat twice and now Im broke... :boxed:
Good luck Mandy

bigq

08-09-2006, 07:06 PM

Damn, if only I had known about this before I started a boat company...
I would lend it to you Mandy but I just bought a Rhino and exhausted most of my available resources... maybe next time... ;)
That's too bad, cutting edge boating companies are so yesterday.http://www.planetsmilies.com/smilies/rolleye/rolleye0002.gif

blown dough

08-09-2006, 07:10 PM

Let me know some more specifics, I have some $$$ I need to get rid of in the right investment that will make a good return.

No Name

08-11-2006, 12:15 AM

That only leaves approx $400K profit at best.
Yeah that would suck. :mad: :D

NashvilleBound

08-11-2006, 03:27 AM

Yeah that would suck. :mad: :D
Well no one wrote so it must be a bust. $400k profit with unanswered questions is a big risk......for example, in the previous post, I was not sure if they were rehabbing the units or not and I did not take into consideration those costs.....hence...that $400k could disapear instantly.

Hardly Satisfied

08-11-2006, 05:50 AM

no big BALLERS here

TCN

08-11-2006, 05:58 AM

Come on Richard, let's hear all the facts. You have some interested parties attention on this. Tell them a little about the area too. USD is a REALLY nice college and very expensive to attend. The area is close to Old Town which is a historical city tourist spot and the coast is maybe a 5-10 minute drive time.

cjordan

08-11-2006, 06:57 AM

Are you looking to make straight interest payments, or entertain equity participation? Why won't your bank step up? What is current mortgage structure?

Howie Feltersnatch

08-11-2006, 07:11 AM

As soon as I get my check from the dead Nigerian foreign minister bank transfer deal I'm working on I'll hook you up.

NashvilleBound

08-11-2006, 05:30 PM

As soon as I get my check from the dead Nigerian foreign minister bank transfer deal I'm working on I'll hook you up.
DONT YOU EVEN.....thats MY money! :220v: :220v: :220v: Besides, if you really need big bucks talk to River Otter. He's the money man.

dirtracer

08-11-2006, 05:49 PM

We were selling a few properties to some investors and a developer and it just fell out of escrow. The developer still wants to do the project badly since the mapping has already started and has asked us to partner up but we would rather sell it because its in a trust. Its 2.5 acres total good for about 15 lots for single family homes located about a mile from the end of the 78 freeway in escondido off of lincoln. We want 1.9mil for the property and it currently has 2 houses and 2 duplex's with rental income. pm me for more details.
Danny

NashvilleBound

08-11-2006, 06:12 PM

We were selling a few properties to some investors and a developer and it just fell out of escrow. The developer still wants to do the project badly since the mapping has already started and has asked us to partner up but we would rather sell it because its in a trust. Its 2.5 acres total good for about 15 lots for single family homes located about a mile from the end of the 78 freeway in escondido off of lincoln. We want 1.9mil for the property and it currently has 2 houses and 2 duplex's with rental income. pm me for more details.
Danny
I sent you a PM.....I have someone local that can check it out.