Posted by DaveM(CT) on August 14, 1999 at 14:34:33:
Rich,
Recently I called a classified ad stating “Money for RE investing. Use our money, share the profits!” It was Enelow out of PA.
Their program seems simple enough. They provide all the capital for flips and or rehab/flips. They look for 30K minimum net profit, of which they give you 30% on the first deal, and 40% on all subsequent deals. For the priviledge of using their money, they want $1500 up front from you, which they will refund in full on the first deal. They publish a brochure which goes into all the details of their offer.
They also will give you a 10% ownership interest for any high yield commercial transactions that you bring their way.
I was tempted to use them, but I found local money people who would go 50/50 with me on deals. They also want a commitment soon after you contact them.
If you’re interested, give them a call.