139 Colfax Rd, Statesville, NC 28625
Great opportunity in Statesville, NC!.
This Statesville home consists of 3 beds, 1 bath, 1,749sqft of living space on a 1.52 Acres Lot. Don’t miss out on this great opportunity!
Investment and Property Details
At Strandpark Properties, we believe in creating win-win opportunities. We invite our clients to sponsor rehab projects, which not only shares the financial success but also fosters a truly collaborative partnership. While we could fund these projects ourselves, we actively value the insights and involvement of our clients. This unique approach allows you to earn 25% profit from the sale of the property, in addition to your initial investment back, making it a lucrative opportunity for everyone involved.
Explore our current deals and join us in transforming properties into profitable ventures.
Purchase price:
$95,950
After Repair Value:
$275,000
Investment Duration:
52 Days (47–day renovation phase and a 5-day final closing period)
Return on Investment:
A 25% profit split
Rehab Cost
$40,200
Estimated Purchase Price:
$245,000 to $260,000
Security
IMPORTANT NOTICE: Investment Security and Closing Guarantee
A Purchase Agreement has been signed with a committed End Buyer, providing an anticipated exit for the project.
In the event the End Buyer fails to close immediately following the property rehab completion, Strandark Properties Limited is contractually obligated to pay the investor their full Return on Investment and Initial Investment on the exact date agreed upon by the investor and Strandpark Properties, as stipulated in the Joint Venture Contract Agreement. This serves as a principal guarantee and ensures the investor is paid on schedule regardless of the final sale timeline.
No Additional Capital Calls: The Operating Partner is solely responsible for any cost overruns, protecting the investor from being asked for further funds beyond the initial $40,200 commitment.
Information Rights: Weekly financial reporting requirements ensure complete transparency, allowing the investor to monitor the project’s financial health in real-time.
Lead Contractor
Sarah Martins
Rehab Cost Breakdown
$4,000: Professional Clean-up & Hauling (Includes hauling large debris and basic sanitization after self-cleaning.)
$10,000: Mechanicals (Health & Safety) (Targeted repairs to fix visible plumbing leaks, eliminate immediate electrical fire hazards, and conduct a basic HVAC replacement.)
$6,200: Bathroom Repair (Essential repair of subfloor water damage around the toilet, installation of budget vinyl flooring, new budget toilet and sink.)
$10,000: Structural & Exterior (Limited, targeted fixes for critical leaks and immediate safety repairs to the porch and stairs.)
$10,000: Material & contingency (Budget for low-cost paint, small repair materials, and a small contingency fund.)
Total Rehab Cost: $40,200