Updated about 1 month ago on . Most recent reply
Bridge loan 35.7% ltv
I am seeking a $100,000 blanket bridge loan for a high-equity commercial double-hold in Detroit (48235). This is a 1st lien position with a massive equity cushion.
The Deal:
• Asset A (18035 Greenfield): Land contract payoff. I have $110,000+ in existing equity.
• Asset B (18041 Greenfield): Strategic acquisition of adjacent property for $75,000.
• Combined ARV: $280,000
• LTV (As-Is/ARV): 35.7%
• Gross Monthly Income: $6000(Projected stabilized)
• Status: Escrow is open at Title One Inc. with a March 4 wire target.
Proposed Terms:
• Interest: 12% - 15% (Interest-only)
• Term: 6-12 months
• Closing: Handled by Title One. No upfront/insurance fees.
I have a full documentation package ready, including the land contract for Asset A, signed PA for Asset B, and interior/exterior photos. Please DM or comment below to see the executive summary.