Need Financing for SoCal Builder Close-outs
Hi,
I am currently syndicating a small bulk package of builder close-outs in the high desert / SoCal area. I have a buyer lined up to take approx. 20 of these properties from us where avg appraised value is $250K-$350K. So this is a potential $5M deal that requires:
pre-qualifying the buyer
financing all the homes
The builder is paying a 25% cash dispursement at close of escrow
Suggested exit strategy is lease option tenants
I don't have 100% confidence in the current lending brokerage set up to service this because they've failed to deliver on smaller deals we're working on with my JV partner! Anyone who has experience funding this level transaction please contact me ASAP! I would need minimum of 3 references and will be triple checking past proven performance. Pleasant skepticism will apply.
Best,