Investor · Jacksonville · Member since 2021 · 12 posts · 9 votes
I'm seeking private funding to complete a Subject-To conversion project in Jacksonville, FL. The property is owned under IKAN LLC and currently mid-renovation, with approximately $35,000 already invested and about $40,000 remaining to finish the rehab. Once complete, the single-family residence will operate as a 8-room co-living rental through PadSplit. Renovations are underway and scheduled for completion in 2–4 weeks. The after-repair value is projected at around $310,000 with expected monthly net cashflow between $4k - $5k. My exit strategy is a DSCR refinance within the next 12 to 18 months, which will provide repayment of the short-term funding. I am offering a 12% interest-only return on a 12-month term secured by a 2nd lien, though I am open to discussing alternative structures with the right partner. If this is of interest, please DM me here on BiggerPockets and I will provide the full investor package including CPA-prepared projections, renovation budget, and supporting documentation.
Lender · Toledo, OH · Member since 2015 · 1k+ posts · 96 votes
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Evin, thanks for laying this out clearly — strong ARV, equity already in, and a defined DSCR refinance exit makes this a very fundable project. I work with private investors and funding groups that provide short-term bridge capital for Subject-To and co-living conversions like yours, often structured as interest-only secured notes.
If you'd like, I can review your investor package and walk you tReggiehrough a couple of options — whether that's a private note, JV structure, or lining you up now for the DSCR takeout refinance once stabilized. Feel free to DM me and I'll share how we can position this to the right capital source. Reggie Truss
Thanks for sharing the details of your project—it sounds like a well-thought-out investment with a clear strategy. At Choctaw RE Private Funding Consultant LLC, we specialize in helping real estate investors with short-term funding solutions for value-add projects like this.
I’d love to connect with you to discuss your project in Jacksonville and explore how we might be able to support your funding needs.