Seeking Private Money Loans For Austin New Construction Projects

[Bryan Hancock]

The growth of our Austin-based new construction projects has been quite explosive over the last year. We have suitable bank financing from in excess of 10 lenders and have a lot of momentum going. We're seeking debt from private lenders to continue growth and keep our powder dry for additional acquisitions. The dollar amount varies from around $10k to in excess of $100k depending on the project and is generally used to advance soft costs (architecture services, permits, etc.) until they're reimbursed on projects. We generally like to start with a small investment to develop relationships with folks.

Here is what we're offering:

1. 10% simple interest
2. 14 month term (would likely pay off sooner, but this is cushion just in case)
3. Payments deferred until exit - We can do payments too, but prefer not to do so to make things simple
4. Promissory note - A simple document that we could explain in 10 minutes
5. Credit reports showing 800 or so credit scores from all borrowers - We're extremely vigilant about paying our bills and our vendors
6. All borrowers have an extensive track record and great character. Our principal roster includes Microsoft Software Engineers, Columbia grads, etc. We're stand-up guys

These investments are very suitable for IRA funds and we have a preferred company (Quest) that we send all of our folks to if you don't have things set up already. Austin is booming right now and the investment opportunities are plentiful.

Please email me at the address in my signature if you're interested. We source new deals weekly.