INVESTOR NEEDED to help record unencumbered deed in MI!
Hello,
I have under contract a 4-unit apartment building where the seller should sign over the property by warranty deed to me. However, to record the deed the property taxes need to be paid. I am looking for an investor for $8,000, 10% effective rate for 30-45 days to help record the deed. The investor will also receive 1st lien position in this property that is worth approximately $134,500 calculated value at an 11% cap rate upon the deed recording.
The plan and exit strategy is to refi the property in at most 30 days, for 50% LTV, then pay off this loan ($8,800) and the seller upon refinance. The lender is already identified. If interested please contact me at [email protected]. I would be happy to answer any questions you may have and provide any documentation you may need.
Thank you!
Sherri Duncanson