Updated 3 months ago on . Most recent reply
"Barn"dominium-true private lender desired
Hey there! I'm bringing to completion the conversion of a barn into a triplex, with three 1B/1B units, and need a private lender to bring to completion. Experienced contractor with knowledge of the industry, with four properties in a destination tourist town. I've worked with private lenders twice before and this is my fourth project in as many years.
2 of 3 apartments are tenant occupied and property is cash flowing, need a 1st position lien 40% LTV loan of 150k to pay off previous private lender(they had a financial obligation and couldn't refund this deal), complete project, and most importantly fix my credit which has plummeted from coming mostly out of pocket on my CC's to get this off the ground. Six months terms, DSCR ready as soon as my credit is back up to par.
Thanks for reading, and looking forward to working with you!