Looking for investment partners

1. REAL ESTATE BUSINESS PLAN Rebuilding America’s Inner Cities Every large city in America has an Inner City Housing problem that by and large is completely ignored but if properly worked could be the largest Real Estate boom in the nation’s history. In my capital city (Little Rock, Arkansas) I can purchase abandoned and boarded up houses for as little as $3,000.00, spend $15 to $30 thousand on them and sell them for $70 to $90 thousand, clearing from $25 to $40 thousand a home. This is more profit than new home builders make per house and they have thousands more invested in each home. Now, here is thing that sets this proposal above every other “purchase, renovate and flip” project going on today. By having our own Mortgage and Finance Company that pays us immediately at closing, we can make the above profit on each home and then earn another three (3) times the selling price of the home simply by financing each sale ourselves. Example: A home that sells for $70,000.00 and financed for thirty (30) years at 8 percent interest will bring back $184,910.40 to the company, another profit of $114,810.40. This is an instant profit of $30,000 and a total profit of $144,481.40 on just one (1) home. The only limit as to how many homes we could do each month would depend on how many crews we put to work. This will boost the economy by putting people to work, clean up neighborhoods and rid areas of crime by getting rid of drug dealers. My goal is to do 30 homes a month. This can be duplicated in every major city in America. Should there be a default, the home can be renovated again and the process started all over. By having two companies, one for renovating and selling and one for financing, we would have the market cornered and basically all to ourselves because there is nothing like this being done and again, the supply is limitless. Also, there are vacant lots all over the city that can be purchased for as little as $1,500.00 and a new, 3 bedroom, 2 bath (1,200 s.f.) home can be built for about $50.00 a square foot, or a total of $61,500.00 a home. They would sell for $99,500.00 or make excellent HUD rental homes that the Government will pay the rent for our tenants under Federal Programs. I propose we set up our companies with a 60/40 payback arrangement. I will supply the expertise, do all the work and you supply the money. The 60/40 split will be after all expenses are paid and 20 percent kept in the company for operating expenses and overhead. Sense you are putting up the money, 60 percent of all profit will go to you. We can have the legal work drawn up and approved by all parties concerned. Your attorneys there will protect you and your investments and my attorneys here will protect me. Strictly business but God expects us to be wise stewards of the money that He allows to come our way. The above can be put into operations immediately and turning profits in as little as 15 working days. Every home I have renovated has a renter or buyer ready before we have the home ready for occupancy. The prospects already live in the area so getting people into the areas is no problem. They just want to better themselves but simply need help. Our finance company will look at credit but the loan will not be based on credit but rather the ability to repay the loan. Again, if a loan does default, we just start the process all over again. Depending on the condition of the home, here are the areas we concentrate on: 1. Foundation. These homes are pier and beam and are no problem to level. 2. Roof. Most will have roofs to replace with some decking damage. 3. Windows. We use energy efficient, duel pain windows. 5. Plumbing & Electrical. Most homes will require new plumbing and electrical to bring up to code. 6. Floor coverings. a. Living areas are either refinished or overlaid with laminate. b. Bedrooms are carpeted. c. Wet areas get ceramic tile. 7. Kitchen & Baths. Kitchens and bathrooms sell homes so they are pampered. There will be exceptions but normally these areas are gutted and everything is replaced. 8. Exterior. Eye appeal gets people in the door for a look so this area is cleaned, painted and landscaped. The benefit to our customers would be a completely renovated, larger home that they could buy for a fraction of a new, much smaller home. The benefit to us would be that the home is sold immediately at a great profit and then produce interest income for us for an additional 30 years. Thank you for your consideration, Bill Duvall Duvall Properties, LLC P. O. Box 712 Cabot, Arkansas 72023 bduvall@centurytel.net 501.454.7575