Looking for private investors/direct lenders interested in participating in the financing of the acquisition/rehabbing of an apartment building in the Palm Bay, Fl area.
Property is bank owned (REO) and can be acquired for 58% of it's ARV value ($698K), including repairs. Total investment comes to $420K and I'm offering 10%, interest only ROI, 12-24 months term.
Rehab work is a complete "gut" job in order to bring units to above average standards for the area. ARV however is being determined based on below average rent per unit for the area, to insure fast occupancy and limit investor exposure.
If you as a private lender/Investor or your company, if a hard money lender, can finance 100% of investment of up to 65% of ARV and, have no submission fees, please contact me for financials, executive summary and loan application.
Only investors or direct lenders who can "pull the trigger" fast need to contact me please, since fast closings are an incentive on all my REO offers.
I also have offers pending approval on apartment buildings in Texas, Kansas and Atlanta. If you or your company also lend in these areas, please contact me for details.