Hello,

I am seeking a $20,000 secured working capital loan for 2 projects. The $20,000 will be secured by a stable cash flowing building that was recently refinanced so I have an accurate appraisal assessing value. I have $42,000 of equity in that building and am looking to utilize 1/2 and am willing to offer 2nd lien position at 20% APR, interest only payments for 1 year, principle paid at the end of the year. The first duplex is under contract with an ARV of $104,000, purchase and rehab totaling $60,000, 100% of the purchase, need $8,000 more to close. Projected annual gross rent and NOI are $20,400 and $14,000, respectively.

The remaining $12,000 will be used to complete the rehab on another duplex I already own with a 1st mortgage of $60,000 and ARV of $155,000. One side is complete and rented, the $12,000 will be used to complete the other side. Projected annual gross rent and NOI for the entire building is $27,000 and $20,000, respectively.

The $20,000 loan is perfect for someone wanting to put their money to work for them for a greater than market return. It will be repaid with the refinance of the 2 projects. I have a detailed loan proposal available if interested. Please respond to this post or email me at [email protected]. Thank you, Sherri