Short term $25,000 loan request

Hi...thank you for reviewing this funding request...

I purchased this property as sole owner after my husband passed away 3 years ago. All payments are current. I used a hard money loan to purchase and do some light repairs (recorded loan $130,00+-). My intent was to refinance and stay there for a long term basis. However, I finally realize that there is no need for such a huge house with my current lifestyle,

Over the last months I have been using my partner's construction company to do further work on the home in preparation of putting on the market to re-sell. I have accrued a financial obligation in the amount of $25,000 that I must repay to the construction company asap. Thus the reason for my loan request. The construction company funds must be replenished at an expedited rate..

We will be putting the home on the market at the end of the week. Comps are supportive in the $250k range for smaller homes. Ours is a full three story ( not including basement) home...top floor comprised of master suite with full bath including double vanity, shower and Jacuzzi tub and walk in cedar closet...second floor with 4 bedrooms, laundry and full bath with Jacuzzi tub/jet shower unit, and first floor with covered front porch, rear deck, kitchen, living and dining rooms and half bath. Rear yard is fenced and has a freestanding garage. House also has new 2 zone heat/air conditioning system...In anticipation of a quick contract we will offer a $249,000 list price.

Comps:
http://mrislistings.mris.com/DE.asp?ID=59130096405

My property address is 2218 Kentucky Avenue Baltimore, MD 21213

I am a licensed Realtor, have been an active investor since 2002, run our construction company, am organizer/mentor for several investor groups and have been involved in over 400 deals with my partner over the last 6 or so years...I have quite a range of solid investing experience...

I'm interested in discussing any scenario that a lender may propose...speed of funding is paramount as I have an obligation to replenish the construction company funds used. Between the equity position and my and my partner's guarantee if required, this is a safe investment on every level. I need to get this house sold quickly to satisfy my original hard money lender terms. I have also relocated during construction and am carrying two large payments which I certainly want to cut down! I am truly a motivated seller!

While I have several private lenders reviewing my situation I will likely move forward with whomever gives me the fastest approval/can fund the fastest. I appreciate your interest in hearing about this opportunity and discussing it with any lenders that may have interest.. I'm looking forward to discussing this opportunity in greater detail...thanks so much..Reaching out to me via text for initial connection is best since I manage a heavy phone call volume.

Nancy Sewell

Exit Bennett Realty

meetup.com/reidoneright

443-255-2099

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Permalink Reply by Mckenley Washington on August 27, 2014 at 11:32am

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