Seeking Local Private Lender in Columbia, SC or Charlotte, NC

[Will Gaston]

All:

I am an experienced investor living in Charlotte, NC who has been a buy and hold investor in Columbia, SC for over 13 years. My model is purchasing distressed properties near the University of South Carolina, rehabbing, and then renting to college students. 

I am seeking a local private lender in the Columbia or Charlotte areas for a 6-12 month loan to fund 100% of the purchase price and rehab costs of the properties. I am open to negotiation with rate, points, and fees but am seeking an individual(s) to develop a long term relationship rather than a traditional HML. Of course, the lender will have first lien position and ARV will be sub 75%.

A few examples of deals that I've done in the last 12 months:

• April 2017 SFH: $106,000 (Purchase Price 60k, Repairs 46k), $162k or 65% ARV
• October 2017 Duplex: $255,000 (Purchase Price 200k, Repairs 55k) $350k or 72% ARV
• January 2018 SFH: $94,000 (Purchase Price $70k, Repairs $24k), $164k or 57% ARV
• February 2018 Duplex: $223,000 (Purchase Price $121k, Repairs 112k) 325k or 68% ARV

Please send me a PM if this sounds like something you'd be interested in.