Need Acquisition Funding For Less Than 6 Months

[Benjamin Fredricks]

Looking to get private money for the acquisition of a deal here in Florida. We can fund the closing costs and the rehab on the deal and will be using the BRRR strategy on this one as to keep it as a rental.

Purchase Price: $80,000

Estimated Closing Costs: $2,500

Estimated Repairs: $10,000

Loan Amount Desired: $80,000

Property needs just cosmetics. Flooring, paint, baseboards, appliances and a new garage door. Have great credit (721 score) so getting a refinance done won't be an issue for the exit strategy for the lender to get their money back. Estimate that the money wouldn't be needed for any longer than 6 months.

For the comps, they were pulled directly from the MLS. Comparable sales within a half mile, sold in the last 6 months and +/- 10% on square footage. Will provide upon request

Estimated After Repair Value of Subject: $123,786

The property will rent for $900 per month. Listings in the area are $1,000 +, but I'm being conservative. I also factored in for 10% vacancy, 5% for repairs and 5% for CapEx and 10% for Management.

Currently have $80,000 in reserves so making the payment isn't going to be an issue.  Open to terms so please contact me if interested in funding and I can provide more information about the subject property and the comps.

Thanks,
Ben