We just closed on a 4 bedroom, 2 bath home in the ring city (borders Detroit) of Hazel Park and are starting rehab.
Property will rent for $1100/month and will have a conservative ARV of $42,000
We're looking for a Note with a 3 year balloon term, 10 year amortization.
Property will have a 24.0% CAP rate, but more importantly a 14.0% ratio of cashflow/loan amount.
If you're interested, we can send Property Analysis and inspection video.
Please let us know your rate & points requirement.
I not only represent a fund, the owner of the fund is a personal friend that has allow me to market and underwrite their program; first this is not a line of credit or an joint venture with a 50/50 split. This nationwide program is a swift solution (3-5 day to fund) for real estate investors with no advance fees to worry about. Thank you, I welcome working with you.
Lending for Real Estate Investors Nationwide (Short Sales, REOs, Auctions)
Resume, 1003, Breakdown of the rehab, recent appraisal or BPO or comps
Have a Powerful Day
George R. Mallory,
VP of Finance, Underwriter