Seeking Up to $145K Rehab Loan | Free-and-Clear Mixed-Use | Howland, Maine

Hi everyone,

I’m seeking a direct private lender, asset-based lender or experienced financing partner for a mixed-use rehabilitation project in Howland, Maine.

Deal summary:

• Property: 4,026-square-foot mixed-use building
• Ownership: Inherited and owned free and clear
• Existing mortgage: $0
• My investment to date: More than $30,000
• Capital request: Up to approximately $145,000, subject to final scope and appraisal
• Preliminary ARV: Approximately $260,000 based on available comparable-property information
• Requested loan-to-ARV: Approximately 56%
• Current as-is value: Updated opinion or appraisal to be obtained
• Proposed use: Commercial storefront and residential apartment, with future office or additional residential potential
• Documentation: Structural engineer’s report, inspections, photographs and completed-work records available
• Contractor: Ready to begin the major rehabilitation work

Work already completed includes engineering, demolition, cleanup, drainage mitigation, temporary shoring and stabilization. The engineer’s assessment is that repairing the building is more economical than demolishing and replacing it.

My preferred financing structure is a first-position, asset-based rehabilitation loan secured by the free-and-clear property. Ideally, it would include an initial advance for immediate materials and mobilization, with the remaining funds available through construction draws for major work.

I plan to control costs by competitively sourcing new, discounted and appropriate salvaged materials while maintaining receipts, invoices, permits, inspections and lien waivers. I would like reasonable flexibility to move documented savings between approved project categories rather than losing access to funds simply because one portion of the work costs less than estimated.

The primary exit strategy is to complete the rehabilitation, lease the commercial and residential spaces, and refinance into permanent financing based on the stabilized property value and income. A sale would be the alternative exit.

I am interested in connecting with legitimate direct lenders experienced with rural Maine, mixed-use properties, cash-out rehabilitation loans and properties owned free and clear. I am also open to discussing a carefully documented investment structure if it makes economic sense for everyone involved.

Please message me with your company name, website, whether you are a direct lender or broker, lending states, typical loan range and experience with mixed-use rehabilitation.

Supporting documents will be provided after the lender or investor has been verified. I am not considering deed-transfer arrangements or advance “release fee” requests.

Thank you for reading. I am very determined. Have a great day! 😊