Updated about 9 years ago on . Most recent reply
2 projects need funding ASAP!
Hello,
I have two projects that need funding, here they are in order of importance:
1) I own a 4-unit building in need of immediate refi. Loan maturity date is 12/29/16. Loan balance is $110,200. Calculated value of building $163,600 based on NOI and area cap rate. I am seeking a 12 month (or longer) loan. Property is 100% occupied and cash flows well. Due to timing I am looking for a private lender that sees the value in the project and is looking to put their own money to work. My exit strategy is to refi into a 30 year mortgage after 12 months.
2) I own another 4-unit building in need of $30,000 of rehab. Calculated ARV of building $148,200 based on NOI and area cap rate. This loan only needs to be 3-6 months max. Property is 25% rented due to needed repairs. Plan is to rehab and rent the remaining units then refi into a 12 month or longer loan.
I am willing to cross collateralize both buildings together as well.
If interested please contact me ASAP at [email protected].
Thank you!
Sherri Duncanson
p.s. One of my previous projects I posted on here was funded! Thank you BP!