Short-Term Loan on Jacksonville PadSplit Project
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.