Private funding needed for extra liquidity in Chicago

WantFinancingPrivate Money
Classifieds

Private funding needed for extra liquidity in Chicago

Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes

We are closing on a property May 31. The way the Hard Money Lender works is we have to pay for the construction up front, then they reimburse us. While we have enough liquidity to receive the loan, we are interested in having more in case something comes up that we need the extra cash to pay upfront.

I would be willing to disclose information regarding the property, the architectural plans, the construction budget, etc. 

We are looking for roughly $20,000 and would need it for probably 6 months max. 

Please contact me if you'd be interested!

0Reply
4 views

5 Replies

Jump to latestLatest
  • Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes
    9y

    Property is near Chicago by the way!

  • Sean RichwayBusiness Member
    Lender · Chevy Chase, MD · Member since 2015 · 1k+ posts · 136 votes
    9y

    @Jaclyn McClellan  What type of leverage is your current lender giving you on the purchase and rehab?  What is the cost?  We might be able to increase your leverage on your next deal so you have the rehab reserves to cover the initial work.  Feel free to message me or email me directly at [email protected].

    Infinity Capital Finance4.48 Reviews
  • Investor · Lawrenceville, NJ · Member since 2016 · 64 posts · 6 votes
    9y

    I am working with an awesome crowdfunding platform that could most likely provide you with more than one option to achieve your investment goals.  Connect with me and I can put you in touch with the right person to help you vet their capabilities.  

  • Developer · Chicago, IL · Member since 2016 · 82 posts · 88 votes
    9y

    What collateral is there for this $20,000 loan? I would assume any HML doesn't want 2nd liens being put on the property. PM me if you want to chat about it.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.