PRLog (Press Release)
- Oct. 5, 2013 - MERCED, Calif. --
California real estate investment and lending shop Altoma Fund Management LLC is very pleased to announce an opportunity to joint venture with real estate entrepreneurs. This unique joint venture partnership allows an entrepreneur to find a California property with flip potential, and source 100% of the purchase and rehab capital from Altoma. A program like this one has been virtually unattainable by many people looking to capture a piece of the attractive profits made available in real estate capital appreciation. In the past, an entrepreneur entered the real estate game with their own money, or money borrowed from a relative or friend. The question is, what if you don't have $30k to $80k to put down for a private money loan, yet you have an excellent real estate deal with great profit potential? This is the unique void that Altoma Fund Management LLC is looking to solve for those entrepreneurs who have the deal, and just need the money.
As with many ideas or services, they are often born out of an experience by the creator. That experience was quite simple for Altoma principals Jacob Morgner and Dean Sparks. When Morgner and Sparks started out with dreams of being real estate investors, they had one problem: NOT ENOUGH MONEY. This simple fact is extremely discouraging to emerging real estate entrepreneurs who are unsure of how to crack something so simple, yet so complex as having or finding money to fund a deal. Over time, Morgner and Sparks were able to establish relationships with investors who could help them fund transactions, though they never forgot how difficult it was to get their feet off the ground. For this very reason, Morgner and Sparks recognized the massive potential to not only help entrepreneurs fast track in the business, but to also work on real estate deals that might not ever close because they were sourced by a sponsor without adequate capital.
Real estate investors and entrepreneurs will be eager to understand the dynamics of how a joint venture partnership works when one party invests 100% of the money. Altoma has a formula that is equitable for all parties involved. It allows the sponsor of the deal (the entrepreneur)
to make out very well, especially considering they have 0% risk and exposure. One consideration needs to be noted, and that is Altoma Fund Management LLC will only joint venture on a deal that is good with proven upside potential. It is the sponsor's job to have all the numbers to prove the transaction has potential for profits. Moreover, it needs to be presented in an easy to understand format. If the entrepreneur does his or her job and finds a good deal, then they can sleep well at night knowing there are a few other entrepreneurs ready to help them close the deal.