Nationwide Real Estate Investment Group rehabbing and retailing properties. Goal for 2010 is 210 properties across seven markets.
Get to know Gregory Childs
We are a rapidly growing SFH fund (under $5M) that invests in a couple of markets (GA primarily) doing rehabs and then retailing the properties - no buy and holds/rentals, strictly a rehab with a 60 - 180 day project window from start to finish. We completed approx 30 properties in 2009.
We are looking to expand in 2010 (already developing teams in AZ/TX/IL) to anywhere across the US that has a good retail sales potential - goal is to complete 210 properties this year over no more than 7 geographic markets (30 per market). As with most RE Investors we make our money buying correctly. We are looking for homes that we can return a minimum of 30% cash on cash (have been doing better than that in 2009 - up to 50%) after expenses/comm, etc. Median priced for the neighborhood (which will vary considerably i.e. Charlotte, NC vs Denver, CO) and must be within the FHA loan limits for the area.
We have cash, can close in 10 days (not that the sellers can really close that quickly) and provide POF. We have a great potential for a RE professional that likes to work with Investors and who can also handle a little project oversight. Ideally, each team we establish will close 3-5 properties per month on average, this provides enough consistent volume for us to establish a viable market presence and generate traction with a local GC.
Send me an email if you would be able to provide this type of product "consistently" or if you think your market area can produce the returns we desire - we like to concentrate our efforts with just a few key players; it makes the administration and coordination much smoother. While others are waiting on the sidelines we believe it is time to plant the fields for a bountiful harvest. Plant, Tend, Grow, Harvest... then replant. That's our business plan - shocking, eh!