CA - HARD $$$ for Rehab

[brokerintheskye]

Posted - 03/12/2008 : 3:45 PM
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SFR

Loan amount: $2,450,000
Future value is 4.5M

Borrower has already spent $140,000 on plans & permits and Escrowed 45K

Escrow was opened march of 2007 with the understanding that the buyer needed necessary time to get plans & permits. The seller has been disbursing $5000 to escrow for every month of extension.

Mid score 705

Self Employed making about 45K a Mo

History of Rehabbing/Construction - Contractor's License

Exit Strategy to sell - works w a Realtor

Property in LA 90046

Needs to close by the end of the month

Hard Money Needed

Can cross 250K liquid assets, 1 M life insurance Cash Value and Equity in Pimary If Needed



Let me know if you have any interest.

[Do Not Walk Away]

before looking to hard money lender, contact my colleague.. she just closed a 7.5 mil construction loan, borrower had no credit, no fico and they got the job done, i understand that interest rate was in low 6's. Here is her email, wohlhartc@msn she will give you lender contact. Good luck!

[brokerintheskye]

deal has closed