Chuck Zimmer's Discussions
funding in place, need to show equity
Started this discussion. Last reply by Mark Luke Sep 20, 2013. 11 Replies 0 Likes
We have a 18 unit rental project in Morristown NJ. We have a bank interested in a construction to permanent loan, but would like us to have cash in the bank as collateral. We do not need to spend…Continue
Tags: Construction, loan, County, Morris, NJ
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Chuck Zimmer's Blog
18 Apartments in Morristown NJ
Posted on February 11, 2014 at 8:50am 2 Comments 0 Likes
Funds invested. Bank loan in place. Short $300k in cash/equivalent to support construction loan of $3M. No money to be spent. Can also add to LLC and transfer $0, but need to be a co-signer.
All ideas are appreciated! Thanks for reading.
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