Updated over 7 years ago on .
EMERGENCY FUNDING NEEDED ASAP!
Hello,
The financing I had to refinance a 5-unit I own fell through so I am looking for a very short-term 45-day loan to purchase the note so I can secure other financing for the building. There are several other options for financing, but the close process will take 30-45 days and the note purchase needs to happen on or before Monday, October 29th.
I am asking for a $206,000 loan to purchase the note for up to 45-days and am offering 1st lien position, a 10% effective rate, principle of $206,000 and interest of $20,600, $226,600 total will be due at the end of that up to 45-day period at the close of the new financing.
I am happy to provide appraisals, NOI, and a detailed exit strategy, etc. and provide any other information and answer any questions. Time is of the essence so please email me at [email protected] or reply to this post ASAP.
Thank you!
Sherri