Hard assets quick turnaround. 

we need some creative financing.  We have a new system that converts open top hopper rail cars (unused coal carrying cars) into a closed hopper system.  We have a group of 76 cars that are immediately available.  They  are easily converted by adding a roof and changing the discharge pans.   The following is a cost break down on purchasing and converting the 76 cars:

 

Roof Kits:

Material                                                                     $ 6,585 X 76  = $ 500,460         

Labor                                                                         $ 4,783 X 76  = $ 363,508

Freight                                                                       $     350 x 76  = $  26,600

Profit                                                                          $  1,904 X 76 = $ 144,704

                                                                                                            $1,035,272

 

Roof  Subtotal                                                                                              $1,035,272

Rail cars                                                                     $25,000 ea X 76 =    $1,900,000

Roof and Pan Installation                                           $ 7,800 ea X 76 =     $   592,800

 

TOTAL        $3,528,072

 

The cars when complete lease for about $600 a month on a 60 month operating lease.  The cars also have a 7 year straight line deprecation.  We are looking for funding for the purchase of the 76 railcars, $1,900,000.  The title to the cars stays with the entity funding the purchase until the cars are transferred to the end user.  My partner can fund the conversion and we can provide leases.  My partner in this has a takeout letter from Pacific West Equipment a bank that will take out the cars as soon as they are converted.  The total turnaround time on the conversion is about 120 days.

 

We have a short time frame to secure the cars.  They are inspected and fully certified for use.  Is this something you can work with?

jim@fabcarllc.com

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jim@fabcarllc

Can they move quick?

jim@fabcarllc.com

I read your loan proposal with the above subject but you did not leave a phone number to call you to discuss the scenario and its funding process,Have you been searching for a direct Private hard money Lender to help you with your loan request that DOES NOT Charge any Upfront Fees ? If so, you've found the right source.I can assure you that Money is something that I enjoy earning, but the key is "earning" and not "taking".
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