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Updated almost 10 years ago on . Most recent reply

User Stats

718
Posts
270
Votes
Jason Merchey
  • Investor
  • Hendersonville, NC
270
Votes |
718
Posts

Seeking 6-18 Month Loan

Jason Merchey
  • Investor
  • Hendersonville, NC
Posted

Here is what I have to offer: 8% annualized interest-only loan of $200-$300k, 1/12th of which is payable every month, for up to 18 months, no prepayment penalty. 
My situation is this: I have good credit, a house under contract for purchase January 15th for $300,000, which I will rent for $1995 (or so) per month on a year or longer lease. I also have stock worth in excess of twice the value of the house. However, since investing in stocks for the first time about fifteen months ago, the portfolio has performed poorly. Thus, I am "below zero" and do not want to sell the stock yet. I don't know if it will take three months, six months, twelve months, or eighteen months to reach a "loss" that I am comfortable with (0% would be ideal). I don't want to pass on this house though, I like it and it inspected well. If title is clear, it will be a workhorse in my small portfolio, and best of all, it's NOT STOCK!  I want to liquidate half of the assets in stock and move to real estate. 

So, what I am looking for is a loan that will allow me to "play for time" in regard to my stock value. I am happy to offer the house as collateral, or offer stock as collateral, or sign a personal guarantee - your choice. I am confident that I will turn a profit on the lease of this house with an interest-only loan, so it's safe. Oh I also own three pieces of real estate free and clear. My wife has a career. I have a clean background, and will honor whatever agreement I sign. 

I can commit to a 6-month minimum term, and an 18-month maximum.

8% isn't a huge profit but it's very safe, very easy. Let me know if you are interested.

Offering

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