Salt Lake City, UT — Duplex Acquisition | Seeking Hard Money / Private Lender
I’m currently lining up B–C financing for a Salt Lake City residential duplex acquisition and looking for a lender/broker who can actually place the loan.
Deal fundamentals:
- 2-unit residential duplex
- ~1,112 SF
- Target ARV: ~$650K
- Maximum B–C purchase: $455K
- Target financing: ~85% LTC on purchase
- 100% of approved rehab budget funded through draws
- Long-term buy-and-hold
- DSCR refinance as the stabilization/refinance exit
- Tenants targeted for placement prior to closing
- Entity borrower; I am the sole B–C signatory
- Current Experian: ~597
- No additional collateral available
The renovation is a substantial modernization/energy-efficiency retrofit with a detailed SOW and lender-controlled draw structure.
Financing preference: asset/project-based underwriting using the property, SOW and projected ARV rather than relying heavily on borrower credit. No traditional appraisal is preferred/required for our structure.
The transaction is being structured as a coordinated A–B/B–C transaction, with a gap component considered only if the senior lender requires additional acquisition equity. The objective is to keep the senior lender in a straightforward first-position role.
Current status: The acquisition is not yet under contract. I have begun the financing application process, and the PSA is pending while we finalize the acquisition side.
If you fund or directly broker 85%+ LTC residential acquisitions with rehab funding, particularly where credit is not the primary underwriting factor, DM me. I can provide the detailed SOW, numbers, transaction structure and lender packet privately.
Looking for an actual lender/placement—not a referral list.