Portland OR, Private Lending $170,000 on a $690,000 ARV

[Michael Moikeha]

Hello,

I have a great project lined up and I am looking to finance a small portion of it.

ARV - $690,000

REHAB - $100,000

PURCHASE - $450,000

LENDING REQUIRED - $170,000

Purchase is being made just under 80% ARV Less expenses, but the best part is that the owners are financing 85% of the deal. The problem I am running into is that my lender is large enough that they will only lend in 1st position, but I am looking for a 2nd position lender at $170,000. I will also entertain a JV Partnership or HM that would take second position.

Check out my FB page to see some of the other projects we have going on right now.

I have hyperlinked the following additional information below:

Property Information

Investment Packet

[Wayne Brooks]

Very few lenders are going to lend as a second at a total 80% LTV, particularly with you having no money in the deal.