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DADDY380
380 Posts |
 Posted - 07/14/2008 : 6:43:09 PM
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A buyer/client of mine is in the business of ONLY buying land in and around Nevada(especially Vegas)
My client typically pais cash for the land---he is a very wealthy investor worth a few hundred million
Regarding this specific deal—
My investor is looking for a jv partner to purchase a $2m tract of 4 acre land 15 minutes off of the strip to be used for a 68,000sq ft medical building.
The deposit for the purchase is in escrow and is looking on this project for a 50% investor to come in and give $1m towards the purchase of this land—that they would like to close in 30 days
The land was just appraised and came in at $3.125m—so there is already $1m in equity
What my investor like to do is he only buys land that will be used for strictly commercial properties such as hotels and office plazas..etc –and once he typically buys the land—usually vacant he then entitles the land with all the permits and zoning/architect plans—the whole 9 yards and then within 12 to 18 months he resells it for a huge mark up-----
In this case the resale of this property should be close to $6m—when all the entitlements are done------
What he offers to the investor is a 30/70% split---30% to himself and the investor who comes in with him gets the 70%---
He is an expert in Nevada and only deals in Nevada—and all he is looking for are partners depending on how much they are looking at investing to come in with him on any projects he might be working on
He has made millions doing this and currently has around 9 projects woring in that state as we speak
Please let me know if your investors would be interested—and whatever I make on the commissions I split with you and your people
My investor is hot and heavy and ready to move—I can send you all the info on any of the project info you need on this
daniel
3059408482 |
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KHufford
5327 Posts |
Posted - 07/14/2008 : 8:40:01 PM
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Serious question, I hope you can honestly answer this without getting all defensive like most brokers seem to do:
If this client is worth hundreds of millions, an expert in this, and tons of experience, money in the bank, and can flip this for a huge profit, right? Then why does he need or want to split his profits with another investor? Especially for a relatively small loan of 1M? Makes no sense to me...
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DADDY380
380 Posts |
Posted - 07/14/2008 : 8:59:27 PM
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| i asked him the same question--and he told me that he wants to limit his capital as he is in the middle of some very large transactions that require the main portions of his funds that he is doing without any partners----------hope that helps-----he is for real--and if you have the buyer will be more than happy to provide any info on the project or proof of the buyers financial info when you move forwards |
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KHufford
5327 Posts |
Posted - 07/14/2008 : 9:05:59 PM
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quote:
Originally posted by DADDY380
i asked him the same question--and he told me that he wants to limit his capital as he is in the middle of some very large transactions that require the main portions of his funds that he is doing without any partners----------hope that helps-----he is for real--and if you have the buyer will be more than happy to provide any info on the project or proof of the buyers financial info when you move forwards
I guess that makes some sense, but its honestly more rhetotical, its just seems fishy. If you have an executive summary send it over, we are located in Vegas as well (Satellite office) so we do alot there, I can have it looked at for potential viability.
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DADDY380
380 Posts |
Posted - 07/15/2008 : 08:58:32 AM
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Please call me when you get a chance---thanks so much
daniel
3059408482 |
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EMScommercial
4780 Posts |
Posted - 07/15/2008 : 09:10:47 AM
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| kyle wrote what i was going to.... with an addition of vegas land is very abundant right now.... i hope kyle can help you.... have a nice day.... |
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dkendall1979
8822 Posts |
Posted - 07/15/2008 : 09:16:04 AM
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I smell something...
This has all the makings of a scam. The "Wealthy investor", the "Opportunity", The "Explanation", then finally the "Urgency of time".
Run far, run fast and don't look back! |
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ddmortgage
268 Posts |
Posted - 07/15/2008 : 09:53:38 AM
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quote:
Originally posted by KHufford
[quote]Originally posted by DADDY380
i asked him the same question--and he told me that he wants to limit his capital as he is in the middle of some very large transactions that require the main portions of his funds that he is doing without any partners----------hope that helps-----he is for real--and if you have the buyer will be more than happy to provide any info on the project or proof of the buyers financial info when you move forwards
I guess that makes some sense, but its honestly more rhetotical, its just seems fishy. If you have an executive summary send it over, we are located in Vegas as well (Satellite office) so we do alot there, I can have it looked at for potential viability.
I agree with you Kyle! I would send it to Kyle, He has a lot of knowledge with the Vegas area. |
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KHufford
5327 Posts |
Posted - 07/15/2008 : 09:55:47 AM
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Thanks David,
Like we all said however, something is not adding up, but if hes legit and wants a JV he should have a solid summary to present, if not, pound sand!
Thanks |
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ddmortgage
268 Posts |
Posted - 07/15/2008 : 09:57:03 AM
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[quote]Originally posted by KHufford
Thanks David,
Like we all said however, something is not adding up, but if hes legit and wants a JV he should have a solid summary to present, if not, pound sand!
Thanks
Your dead on! It seems there is more to the story that we don't know yet. |
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DADDY380
380 Posts |
Posted - 07/15/2008 : 4:27:38 PM
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| its too bad--i have a full summary and now have a letter of interest in place with an investor to come in at 60%/40%-----thanks for all your help--too bad you looked at this in a negative fashion---- |
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KHufford
5327 Posts |
Posted - 07/15/2008 : 4:34:37 PM
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quote:
Originally posted by DADDY380
its too bad--i have a full summary and now have a letter of interest in place with an investor to come in at 60%/40%-----thanks for all your help--too bad you looked at this in a negative fashion----
Let us know when the check clears.
It so annoying when people post here, only to get all pissed when they dont get the answers they want. Anyone can issue a crappy LOI and ask for due dilligence fees, only the real legit people will tell you the truth you dont want to hear.
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bestbet123
1247 Posts |
Posted - 07/15/2008 : 4:35:51 PM
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| lmao i was just gonna say that. |
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dkendall1979
8822 Posts |
Posted - 07/15/2008 : 4:40:43 PM
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Yeah
quote:
Originally posted by DADDY380
its too bad--i have a full summary and now have a letter of interest in place with an investor to come in at 60%/40%-----thanks for all your help--too bad you looked at this in a negative fashion----
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omegafunding
252 Posts |
Posted - 07/17/2008 : 07:50:07 AM
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If you still need a source when your other one fails let me know. We have direct investor in las vegas area. If business plan acceptable we will arrange face to face meeting.
Ben
Omega Funding, Inc
720-279-4345
quote:
Originally posted by DADDY380
A buyer/client of mine is in the business of ONLY buying land in and around Nevada(especially Vegas)
My client typically pais cash for the land---he is a very wealthy investor worth a few hundred million
Regarding this specific deal—
My investor is looking for a jv partner to purchase a $2m tract of 4 acre land 15 minutes off of the strip to be used for a 68,000sq ft medical building.
The deposit for the purchase is in escrow and is looking on this project for a 50% investor to come in and give $1m towards the purchase of this land—that they would like to close in 30 days
The land was just appraised and came in at $3.125m—so there is already $1m in equity
What my investor like to do is he only buys land that will be used for strictly commercial properties such as hotels and office plazas..etc –and once he typically buys the land—usually vacant he then entitles the land with all the permits and zoning/architect plans—the whole 9 yards and then within 12 to 18 months he resells it for a huge mark up-----
In this case the resale of this property should be close to $6m—when all the entitlements are done------
What he offers to the investor is a 30/70% split---30% to himself and the investor who comes in with him gets the 70%---
He is an expert in Nevada and only deals in Nevada—and all he is looking for are partners depending on how much they are looking at investing to come in with him on any projects he might be working on
He has made millions doing this and currently has around 9 projects woring in that state as we speak
Please let me know if your investors would be interested—and whatever I make on the commissions I split with you and your people
My investor is hot and heavy and ready to move—I can send you all the info on any of the project info you need on this
daniel
3059408482
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DADDY380
380 Posts |
Posted - 07/17/2008 : 12:10:32 PM
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My client is very interested in what you have to offer as he has several projects working in vegas and i need a good steram of investors--please call me at 7869429218 or email me at daniel@greenfieldfinance.com--as you left no email address
thanks
daniel |
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