Wingfield Leigh Multi-Family Partnerships
32 Units and Above

Private Money Easy Process

Partnership Requirements- 

Credit Score not determinant of qualification to participate in the fix and flip partnership program, though a credit report is required.

If your credit is below 650 you will be required to enroll and participate in a credit repair program The Credit Giant Inc for a minimum of six months. Wingfield Leigh Industries Inc is a partnership program offering a hand up not a hand out. 

Builder Qualifications

Licensed General Contractor Building Contractor, Financially capable of performance to turn in first draw. Renovation funds remitted in draws based on completion of scheduled tasks from GC provided Scope of Work.

General Contractor License must be provided. 

Project Time Allocation

From purchase closing date to sales closing date the performance period is 6 months. Exceeding 6 months will result in a requirement of a monthly payment on the full purchase and rehab approval amount at an interest rate of 1%.

Project Type – 1-4 units

Minimum Square Footage SFR 1000 SF

Minimum Square Footage Multi-unit 750 SF per unit

Rural areas do not qualify

Qualifying Project

ARV must meet or exceed 150% of total purchase + rehab costs

Participant INFORMATION REQUIREMENTS

• Mobile phone or landline (no google numbers)
• Email address
• Social Media presence (facebook business page)
• Good communication skills
• Contract language comprehension
• Working understanding of the construction industry as pertaining to rehabbing a property

Desire and drive to make money

• Identify the property 
• Submit the property for pre-qualification assessment.
• Run the numbers (submit comps and market analysis)
• Get the property under contract. 
• Submit the deal (GC budget scope of work and schedule required)(interior exterior photos) minimum 4 photos per room, and exterior 6 photos of exterior to include clear picture of roof
  • All four sides
  • Front yard
  • Back yard
  • roof
• Quote for Builders Risk with Wingfield Leigh Industries, Inc. named as additional insured
• Proof of Funds 3 month minimum for interest only payments should allocated time period be exceeded
• Appraisal required with As-is-Value and ARV 
• Proof of GC’s liability insurance
• Proof of all trades that require license have a license number (electrical, plumbing, mechanical). 
• Entry and Exit Strategies
  • Listing Realtor to be used if any

• Strong suits 
  • List your strongest characteristics
• Weaknesses
  • List your weakest characteristics

Draws

• 5 draws with the 5th draw being the final
• Remittance of payment within 48 hours after completed inspection
• Inspection Fee $250 each inspection, failed inspections require an additional $250 fee to re-inspect.
• Final draw requires property to be cleaned inside and out, lawn manicured, all debris removed from site. MANDATORY – NO EXCEPTIONS. Require 6 exterior photos, 6 interior photos, that provide proof  property is ready for final inspection. 
• All required and requested documentation should be emailed to support@wingfieldleigh.com with the subject line having property address and assigned project number assigned.

General Contractor should sign a lien waiver from the previous draw in order to release funds on subsequent draws. If other contractors are employed outside the General Contractor, this too would apply to them.

Partnership Share

We will fund 100% of the purchase and 100% of rehab costs. Partnership share will be tiered as follows:

1st project – 70/30 – NOVICE, first time flipping

2nd project – 60/40 Experienced 2 or more verifiable flips in the past 3 years

3rd and 4th – 50/50 Professional Flipper

Bonus Incentive

Wingfield Leigh Industries recognizes hard work and dedication, and have established a program to reward those who work hard to get ahead. If a project is rehabbed and sold in 120 days or less, there will be a 1% bonus in recognition of your hard work and dedication.

Closing the Deal Requirements

Title Report

Appraisal

Builders Risk Insurance

GC License Number

Signed 1099 from Partner

Closing Time Frame

With all documentation and information provided, Wingfield Leigh Industries will fund in 7-10 days. 

Closing Costs, Origination and Partnership Participation Fee

A fee of $2997.00 will be due within 72 hours of project approval. Failure to deposit these funds will nullify the agreement with Wingfield Leigh Industries and the participant in the fix and flip partnership program. Monthly participation fee $197.00.

AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA , ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY