[Calc Review] Help me, I need a Hard Money Lender

[Ray A Delfi]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

What  I'm proposing is that if someone could help me renovate my building I will be able to get out of a hole of debt. My current PI&TI is $1,414 and owe $146k. I've own the building since 2007 and have had some good tenants and, recently, bad tenants. The building is very old. I started renovations but opened a can of worms that I cannot afford. $20k will get the apartment up and running and will be able to move my current tenant on the second floor into the new apartment at a higher rent (She already agreed). She's been loyal for 4+ years and have given her a great discount on her rent to hang in there and bear the construction on the 1st floor. I'm willing to put the building up as collateral in exchange for reasonable terms. Ideally i'm looking for a hard money or private money, under 10% over 2 years with first payment due at 3 months. This is all negotiable of course, but any help would be appreciated. Even if the monthly payments were $1000 i'll be able to reduce my current expenses by $1000 including paying back the loan. Of course any cash-flow would go back into my reserves and eventually refinance and pay back the lender with interest.