Private or Hard Money - AZ

brokerintheskye · #1 (**permalink**) 02-07-2007, 02:07 PM

24 lots @ 125k each, developed and ready to build, 2 lots pre sold and he wants one personally
3m total, seller will carry 700k
Buyer has 350k to bring in and 50k in earnest money on contract. Blanket loan with partial releases is ok
Need to close by the end of the month, if possible.

ktloan1 · #2 (**permalink**) 02-08-2007, 06:47 AM

where is this property located

brokerintheskye · #3 (**permalink**) 02-08-2007, 01:23 PM

AZ it is in the title of the thread.

ktloan1 · #4 (**permalink**) 02-08-2007, 02:13 PM

can you call me how much ltv you need we can only do 60% and looking on what you wrote he wants to buy all 24 lots ? please email me kevin_thomas4@yahoo.com or call me 330-252-1770 i just want to make sure the numbers are ok

brokerintheskye · #5 (**permalink**) 02-08-2007, 02:22 PM

The subdivision is scheduled to be completed next week, 2 lots are pre-sold. Building houeses on them as we speak, lots are subdivided. We need a blanket loan with partial releases, they can stipulate how much to pay off and the buyer can take his profit on the end.

MortgageOfficer · #6 (**permalink**) 02-09-2007, 10:26 AM

We can defiantely do it. Give me a call sometime or email me if you have any questions. Hope to hear from you soon.

brokerintheskye · #7 (**permalink**) 02-09-2007, 02:13 PM

Phil would your company be the investor?

ginger · #8 (**permalink**) 03-11-2007, 08:59 PM

Quote:

Originally Posted by brokerintheskye

24 lots @ 125k each, developed and ready to build, 2 lots pre sold and he wants one personally
3m total, seller will carry 700k
Buyer has 350k to bring in and 50k in earnest money on contract. Blanket loan with partial releases is ok
Need to close by the end of the month, if possible.

I'm sure you already have this done but just in case. Denver Lending is a hard money lender. You can contact Eileen Michael at 720-327-0346 or eileen.michael@yahoo.com.

ktloan1 · #9 (**permalink**) 03-12-2007, 05:45 AM

If you do not want to waste time and money on shopping we have a program
for this just need 1003 tri merge standard will approved and closed in 15 days
hard money

kevin_thomas@yahoo.com