Hard money loan request
Hello,
My name is John Galloway.
I have a bachelors of science degree in Business Administration with a background in the construction, trucking and oilfield industries.
I’m seeking a hard money loan for the purchase of 3 separate investments under a single loan.
The loan amount is $11,350,000.
The reason for the umbrella loan is to provide exceptional collateral for the purchase of proven cash flow.
The collateral is a ranch in Evergreen Colorado. The ranch is 456 acres, already approved for subdividing into 25, 5 acre lots.
Bare land in the Evergreen area sells for an average price of $139,000/ acre. Using this as a basis the subdivided 5 acre lots are worth $695,000 each (5 x $139,000 = $695,000). 25 lots at this price gives the property a value of $17,405,000. The $11,405,000 loan is 65% of the ranch value.
The proven cash flow is from a successful trucking company based in Texas.
The company provides oilfield support services including water hauling for fracing operations. The company has been in operation since 2012 with several Master Service Agreements in place.
The purchase price is $4,500,000 and includes assets of $3,500,000 in equipment and $150,000 in real estate. The company has a EBITA of $1,319,000.
The third investment is a single family residence that is also in Evergreen Colorado. The intent is to do an update and remodel so it can be marketed as an Air BnB purchase. Air BnB’s in Evergreen are very popular and most are scheduled out until January. This property will have revenue at around $90,000 per year.
To summarize the loan amount, collateral and use of funds.
Collateral:
Ranch. $17,375,000
Trucking company equipment $3,500,000
Trucking company real estate $150,000
Air BnB. $500,000
Total collateral $21,525,000
Loan amount. $11,350,000. 53% of collateral value
Use of funds:
Ranch purchase. $5,500,000
Trucking company. $4,500,000
Air BnB. $800,000
Operating capital $550,000
The lender would have first position on all assets
Loan servicing:
Assume an 8% loan, principal and interest. 30 year amortization with a balloon at lenders discretion.
$83,382 per month = $1,000,584 per year
Income from trucking company $1,319,000
Income from Air BnB. $90,000
Total. $1,409,000
After loan servicing there will be a positive balance of $408,416 per year after loan service.
The benefits of this loan is that I have an education in business and experience in all The fields required to make this venture profitable. The loan will be serviced by cash flow from an existing successful business. And finally the loan has sufficient collateral that any potential loan is fully collateralized.
If you have additional questions please email me at gallocorp80439@gamil.com
Thank you, I look forward to working with you.
John Galloway
Replies to This Discussion
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Permalink Reply by WKL David on
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Permalink Reply by Stephen Mitchell on
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My name is Stephen Mitchell. If you haven't secure funding for this project, I would like to speak in debt with you. Please contact me at amckapropertyinvestments@gmail.com
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Permalink Reply by Samuel Thomas on
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I may have interest, send me your summary of your project with phone number to samcthomas45@gmail.com
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