Updated over 4 years ago on . Most recent reply
First Transactional funding loan. 37% Return in 1 month!
Investment Info:
Single-family residence private money loan investment in Brooklyn.
Purchase price: $35,000
Cash invested: $35,000
Sale price: $48,000
I lent $35,000 to a wholesaler as transactional funding. The note of $35,000 was returned to me with a total of $13,000 additional in profit, representing a profit of 37.14%, or 445.71% annualized!
I will definitely be doing more of these loans in the future!
What made you interested in investing in this type of deal?
The loan was brought to me by a trusted RE attorney I work with.
How did you find this deal and how did you negotiate it?
Borrower and attorney presented the offer, and I accepted.
How did you finance this deal?
I was the lender
What was the outcome?
Success!
Lessons learned? Challenges?
Vetting borrowers is easy when brought to you by trusted referral partners