Gem Rentals, LLC was formed in January 2010 to invest in Rental properties that require rehabbing for resale or rental. We invest in properties in the San Antonio area and surrounding counties. As the real estate market changes we look for opportunities where we can make double digit returns. The company is focusing on Mobile Home Parks as a re-emerging growth area.
The company’s CEO is James E. Glasgow Sr. Gem Rentals, LLC is located in San Antonio, Texas 78233 You can E-mail us at EdwardJim59@yahoo.com
Gem Rentals, LLC purchases rental real estate in Texas and neighboring States. We target properties that can be acquired at their current economic value but that have an upside potential if repositioned to a higher and best use. We look for multi-family properties that can return double digit returns over five years.
We are currently investing in Mobile home parks both existing and new park development.
While our main objective is to make a minimum of 15% to 30% profit based on the property income and Fair Market Value on each deal, we are also aware of our responsibility to the communities we do business in, and our role in the betterment of these communities. Therefore, we always make every effort to provide products that are of good quality and will improve the neighborhood.
Gem Rentals, LLC needs to raise money to finance the homes it buys and sells on owner carry notes or on properties it holds as rentals.
We raise private equity funds using regulation D 506C security rules. Each project under these 506-C offerings have their own business plan and operation agreement.
We borrow from private investors at a interest rate of 7% and 8% with a loan to value of no higher then 70%. The loan term is for 5 years, interest only (other terms available) at which time the lender (you) are repaid. Interest payments are paid quarterly or as negotiated. Loan to values are typically 70/30. At the end of the five years we will sell the notes and pay the investors back. Or investors may be offered an opportunity to reinvest under the same or similar terms.
Certain statements contained herein are forward looking statements, which reflect numerous assumptions and estimates and involve a number of risks and uncertainties. There are possible developments that could cause our actual results to differ materially from those forecast-ed or implied in the forward looking statements. This information shall not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration, qualification or applicable exemption under applicable federal and state securities law.
Notes for sale:
Gem Rentals LLC sells existing notes to private lenders who want a higher return. The notes have a interest rate of 10%. These notes are then paid by the owner occupant. The note buyer is then responsible for the note and Gem Rentals is out of the deal.
The management team consists of James E. Glasgow Sr. with 32 years of real estate investing experience and more than four decades of business management experience. Mr. Glasgow handles all day-to-day operations while outsourcing services such as accounting, legal, marketing, mortgage servicing and all renovation related work.
Lisa Lewis is the companies Property Manager who oversees, rent collection, renovations and all landlord related issues.
We use outside business partners for a variety of business services such as, banking, securities attorney, real estate attorney, title company, mortgage loan originator, loan servicing, accounting and other services.
It is our goal to continue to market our good name so that deals will come to us through other investors, individuals, and realtors. We will continue to pay our cash investors 8% returns on their savings as we have for more then twenty years. We plan to develop our owner finance business model into our primary source of revenue. Our expansion plans are realistic and achievable. We are confident that we have the historical experience, the right people on our team and right process in place to achieve our goals.
James E. Glasgow Sr.
San Antonio TX 78233