Looking for $175,000 first position loan
We are acquiring a single family house for $125,000. ARV is $317,000 and repairs needed amount to $50,000.
We are looking for a first position loan for $175,000 for 6 months at 12% p.a. accrued, with a minimum of 3 months of interests paid. We probably will sell the house faster than 6 months, but we want to be conservative.
I have a Financing Proposal booklet that I can send you upon request. Please feel free to contact me for any additional info.
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