Investment Needed - Secured Second Mortgage -17.5%
I'm proposing the development of a new single-family residence in the Logan Square area of Chicago, Illiinois.
The project will take approximately 12 months from investment to divestment where the project is estimated to Net $111k. I own the land currently and I'm seeking investment of $150,000 Dollars to go towards the project of which total investment is $760,000. The CMA in the area is 1,000,000 Dollars. However we will sell for $880,000 to ensure property sells quickly. Your investment will be a second mortgage on the property.
A promissory note will be issued for 17.5% of the $150,000 and your investment is secured on the second mortgage of the property.
I have extensive experience in real estate development and flips having been involved personally in over 100 projects. I have my own construction teams that have worked on projects for 10 years.
For any questions please reach out to me for information and a colleague will contact you.
You are welcome to come and visit me in Chicago as well if needed. Looking for investor who can scale to 10 - 15 projects per year on this basis of investing 20% -30% into a total project cost taking the second mortgage for security.