Buy and Hold Investor Seeking Bridge Loans

[Riley F.]

I currently own 9 units in Kansas City, MO, and am seeing to expand. 

I am looking for lenders to act as bridge financing between cash purchase and bank refinancing, which requires a 6 month title seasoning period.

The notes will be used to purchase distressed, single-family residences in Jackson and Platte Counties, Kansas City, MO. The strategy targets distressed assets at a purchase price of less than 70% ARV (after repair value) of the property, including repairs. The property is purchased and rehabbed, and after 6 months of title seasoning, is refinanced with a bank note at 70% LTV (loan to value ratio).

The strategy does not require that the appraisal meets or exceeds 70% of LTV -- we carry sufficient working capital to pay the note regardless of appraisal.

Terms are negotiable based on note amount and investor preferences. 

An investor package, including a recent deal, and due diligence documents are available upon request.