We are a private investment-lending firm, specialized in assisting our clients purchase and rehabilitate distressed properties to both flip and maintain them for cash-flow purposes.
We are looking for local and foreign investors that are willing to lend funds. The interest rate of return depends on the amount of the loan; however, we believe that our returns are very competitive.
Investors
Through years of providing financial services to small businesses, often with untraditional banking histories, our experience has shown that traditional banks are often focused on equity ratios rather than the potential of a specific project, small business, and its individuals. Romi was born with the goal of providing funding for such small businesses because we value the potential of a project and its people over ratios.
To ensure that our investments have the fundamentals to succeed, we work with CPAs and consultants, often whom have been working with the potential clients for over 15 years, to provide analyses of the internal and external risks of each potential project. Each project is hand selected after being evaluated on projections, cash flow analysis, and the character, ability, and drive of the potential clients.
All investor loans are guaranteed by placing a first lien on the property, or asset, being purchased by the client, and are personally guaranteed by our client, our officers and the company. In addition to the collaterals and guarantees, our close connection with the CPAs and consultants who work directly with the client, our experience and our network of professionals who assist each client with planning, setting goals, and managing timelines, provides a high level of security and minimizes the risk.
Our connection to our clients does not end with loan disbursement, rather which is where it begins. Romi actively participates in assisting our clients through professional counseling to ensure they have the support they need to succeed. Our professionals are assigned as mentors and meet with clients throughout the project to ensure milestones set during the initial meeting are complete. The timeline set during the initial meeting provides a goal oriented process which has been proven to allow our clients to achieve their goals. The additional cost of providing this service to our clients is paid by our success rate, the satisfaction of the client, and the return and referral business of our satisfied customers.
In order to maximize returns and minimize risk, we believe that low income housing in the United States provides the best tool to achieve these results. Private landlords have the ability to provide housing directly to low income individuals who are subsidized by the U.S. Department of Housing and Urban Development. A majority of the rent is paid by the government directly to the landlord making collection of rent a nonissue. All it takes is an initial cash investment to purchase the property and the recurrent maintenance cost.
Romi has found that this model of investing has been successful; however, we believe that as our number of properties increases, our overhead will decrease and profitability will sky rocket. Understanding the business is a key factor for our investors, consequently, we encourage them to perform their due diligence by searching property prices on auction sites like www.auction.com, www.hubzu.com or by simply “Googling” the desired information. Following the sites and the properties will give you an idea of the initial cost; however, most of these properties are completely destroyed inside and are in need of remodeling. We have the availability to get various estimates from our network of contractors to assist us in planning and managing the cost.
The majority of our clients are contractors in need of funds to rehabilitate their portfolio of rental properties or those who are planning to flip a distressed property. These types of clients are appealing for us because the property serves as the collateral and the client has the knowledge and the motivation to finish the project as quick as possible.
We are looking for local and foreign investors that are willing to lend funds. The interest rate of return depends on the amount of the loan; however, we believe that our returns are very competitive. Local investors will receive a 1099-Int (Interest Income) with no withholding requirements. Foreign investors are subject to a foreign withholding tax which we must submit to the Internal Revenue Service (IRS); however, once submitted foreign investors are not subject to any further filing requirements if this is their only income.
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