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Updated about 10 years ago on . Most recent reply

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Matthew Okosodo
  • Investor
  • West Palm Beach, FL
0
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8
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Private money lender needed

Matthew Okosodo
  • Investor
  • West Palm Beach, FL
Posted

I have a townhouse with contract signed by both seller and buyer. Buyer is using LLC company for the purchase and want to leave in the house for one year to improve his credit then turn it to rental. If interest rate remains less than 6%, the cash flow on this property will be at least $200/month plus property appreciation of at least 3% per year.

The ARV is $145,000 and buyer LTV 80% (20% down payment). The amount to be financed is $116,000.

This property is in Florida, South Florida, West Palm Beach.

I am looking for a private lender who can help with this loan.

If anyone knows the better way to make this happen, please advice.

Thanks

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