JV Partner for US Property (6.5% Net Return)

I am looking for a JV partner for my US property. It would be a 40% equity stake in the property as this would be sufficient to pay the mortgage and become debt free in the property. This is to reduce the risk of the financial stress of banks and have a debt free property.

You would be a silent partner of my US LLC, so no taxes, no tax returns, no need for a bank account. It would operate through my registered LLC in the US and it would continue to be managed by the LLC.

You would receive 40% of all net rental returns, paid 6 monthly and you would also receive 40% of all capital growth of the property moving forward.

Details of the property:

Rental Income – $17,400 ($1450 per month). Current Value ($165k USD = $250k AUD)
Management (10%) – $1740
Taxes – $2,400 pa
Insurance – $1200 pa
HOA Fees – $500pa
Accountant Fee – $550 pa
Legal fees – $450 pa.
Net Cash Flow – $10,500 (USD)

You would be a 40% owner so would receive $4,200 per year in US Income (about $6,500 AUD pa) paid into your AUD bank account twice yearly.

In order to remove the lender, there is a $62000 USD mortgage (about $100k AUD). This would be your contribution and pay out the lender.

If this is of interest to be part owner of a debt free property in USD at about a 6.5% return, then message me and I can send over more detail including housing info and contact details to my Property Manager in Atlanta to run your Due Diligence.

Dean