Arranging finances for investment property
Good morning,
I have an LLC in good standing and I am in talks with the legal seller of a property that I would like to buy through my LLC as a rental/air bnb. The property is not on the market yet as they are giving me an opportunity to purchase prior to that occurring.
I can arrange financing though will also require a private investor to support with the 4 points.
Property: Sheboygan, WI
Purchase: $285,000
Condition: Excellent
Estimated value: Hasn't had valuation, though I'd say it could be around $30,000 more than the sale price of $285,000
Hard-money loan: $285,000
Interest rate: %
Points: 4%
Cash needed: $
Investor contribution: $14,000 - $16,000
Timeline: 1 month
I have seen the property, it does not require any work or repairs. It is a 3 bed though a 4th bedroom could be set up downstairs. The property has a bath room and shower room.
Seller is hoping to complete by October due to probate settlements.
If anyone has advise or is interested in supporting with financing do get in contact.
Many thanks,
Aimee