Need funding for a 12 unit complex in Michigan

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I have a 12-unit property with a purchase price of $375,000 that I am seeking a $105,000 loan to be used for down payment funds and project contingencies. This would be a 6 month loan, 2nd lien position, 12% APR, interest only payments regardless of prepayment with a 10% equity payout up to $1,500 at refinance.

The calculated ARV for the property is $702,000 and needs rehab of $37,500.

If interested I have a more detailed loan proposal prepared, complete with profit & loss and cash flow statements. For this and to answer any additional questions, please email me at [email protected], or reply to this post.

Thank you!!

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