New Real Estate Venture

                   We are currently looking for Limited Liability Partners/Investors** to participate in buying and selling real estate for profit in the Atlanta Georgia area.

Goals

Acquire real estate, repair/remodel, market and sell acquired real estate for profit. Divide profit amongst principals.

To become an established, expanding Atlanta based full service asset acquisition, management and property renovation company with an emphasis in Real Estate Owned (REO) properties.

In Charge of operations – Sid Mazza, full time licensed real estate agent in Georgia since 1985.

1985 Coldwell Banker, rookie of the year, 100% club,  RE/MAX, million dollar club, million dollar round table, executives club 1986-2000 – 2002-2006. Present-Palmerhouse Properties Alpharetta office.

Oversees the residential renovation management team working with subcontractor (electricians, plumbers, HVAC technicians, and general handyman), bids and co-manage remodeling projects, coordinate subs, crews and material needs.

Kathryn Mazza, operation, licensed real estate agent in Georgia 1988 to present, associate of the year 2000, executives club, million dollar club. Present-Palmerhouse Properties Alpharetta office.

Acquisition advisor, Nicole Mazza, licensed real estate agent, 2008 to present.

Acquisition advisor, James Mazza, licensed real estate agent, 2010 to present.

Below are some term definitions and examples.

Acquisition cost, cost to acquire real estate.

Closing cost, if we are paying cash for the property, closing cost will be approximately $1,000-$1,200. This includes attorney fees, documentation fee, title insurance, deed transfer fee etc.

If we are financing the property closing costs will be approximately 4% to 6% of the financed amount. On a $100,000 property with 20% down, financed amount would be $80,000; closing cost would be approximately $3,200 to $4,800. Most of the time we are able to have the closing cost paid for by the seller or we can place this amount on top of the financed amount, example $80,000 + $3,200 = $83,200.

Taxes, depending on the property and time of the year of purchase, $500.00 to $2,000 this is calculated by the closing attorney as required by the particular counties requirements.

Real estate fee, depending on where we buy it, court house steps-none, Fannie Mae foreclosure-5%, Freddie Mac foreclosure-5%, bank foreclosure REO “real estate owned”- 5%.

Repair cost, needed repairs that must be done in order to resale the property, $500.00 to $20,000.

Staging the property for, resale, $1,000 to $5,000, landscaping, painting, counter tops, floor coverings etc.

Selling cost:

After property is repaired and staged, we are ready to place the home up for sale. Carrying cost should be 60 to 120 days out from when we purchased it. Approximate carrying cost on a $100,000 property, $3,000 to $6,000, half of that on a $50,000 property.

Profit:

*Example, purchase price of property, $50,000, including closing cost of $5,000 = $55,000, repair cost $10,000, staging cost, $2,000, carrying cost, $4,000, selling cost $10,000.

Sales price of property: $100,000

$100,000

$55,000-

$10,000-

$2,000-

$4,000-

$10,000- which includes 5% for sales commission and *5% buyers closing cost. * Not always applicable.

$19,000+

If we do one every 3 months that’s $76,000 every quarter.

If we do one a month that’s $228,000 a year

Does not include the amount paid to an accountant.

Profit:

*Example 2, purchase price of property $100,000 including closing cost of $5,000 = $105,000, repair cost $10,000, staging cost, $2,000, carrying cost, $4,000, selling cost $15,000.

Sales price of property: $160,000

$160,000

$105,000-

$10,000-

$2,000-

$4,000-

$15,000-which includes 5% = $7,500 for sales commission and *5% = $7,500 *buyers closing cost.

*Not always applicable

$24,000+

If we do one every 3 months that’s $96,000 every quarter.

If we do one a month that’s $288,000 a year

Does not include the amount paid to an accountant.

Investor’s attorney along with Sid Mazza shall prepare the papers as to the particulars of this Real Estate Venture.

1.   How limited liability partnership is to be formed.

2.   Responsibilities of each party.

3.   Fund account responsibilities to include initial acquisition ‘cost of real estate’, repair cost, etc.

4.   Determine profit split between all parties.

**We are looking for either two investors with a combined amount of $500,000 or one, investor with a total of the same, $500,000 or credit worthy ability.

Investor/Partner would have funds available for Sid Mazza in a form suitable to purchase, repair, and carry real estate purchased from county court house steps, Forecloses, REO properties, Fannie Mae, Freddie Mac, VA, Short Sale, HUD, Straight sales and other real estate opportunities that may present themselves.

For more information contact Sid Mazza @ 770-891-1444 info@ATLHome.com

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