Looking for a private money loan
I hope this post is appropriate for this forum...
I have a deal under contract in Richardson, Tx. I will be funding the rehab personally. I have the ability to close it using hard money, but I'm looking for private money to avoid some of the fees. The loan will of course be facilitated through a title company and will take 1st position on the note. I have a package I can forward demonstrating prior projects we have completed as well as providing personal and professional references.
DOM for resales in this market is less than 30. Rehab will take 2-3 weeks, so my lender can expect to have his/her money back within 60 days.
I'm looking for $160k. We are putting 30k into the rehab. ARV is $230k. Please feel free to contact me right away if you have interest. We are looking to close on 7/12/13.
Thanks!