Looking for Private Money with a 30% Down Payment

[Alex Craig]

Hi--I am looking for individuals who are willing to loan our business private money to purchase rental properties in Memphis, TN on a 5 year note. We plan on being in the house around .50 - .55 on the dollar after renovation. We are ok with putting down 30% per property. Our bank will only let us do so many at a time, so we want to use the private money properties to pay down the bank loans. This is perfect for someone who has a self directed IRA. We have great looking financials; this is really a great opportunity for a individual to do some private loans where the borrower has a large cash stake in the property. Obviously the private lender will have a lien on the property. We are tentatively looking at raising $ 150,000.