I’m located in Portland, Oregon, and I’m looking for a private lender for approximately $40,000 to complete the purchase of a property in Spokane, Washington.

Because of a restriction in the seller’s Freddie Mac contract, the loan cannot be secured by the property at the initial purchase closing.

I’m looking for a lender who would be comfortable funding initially through a promissory note, and once the deed is recorded in our names, a Deed of Trust could then be recorded against the property if the lender requires it.

The expected loan term would be approximately 3 to 6 months, with the possibility of paying it off sooner.

The property is already under contract, and the Earnest Money Deposit has already been sent.

Deal numbers:

• Purchase price: $143,745

• Current estimated value: approximately $278,000

• Estimated rehab: approximately $25,000–$30,000, self-funded

• Estimated ARV after renovation: approximately $350,000–$355,000

If you’re a private lender, investor, or know someone who may be able to work with this type of structure, please send me a DM and we can discuss the details.