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  • jbrogan
    started a topic Loan on land - $120k

    Loan on land - $120k

    Hello, i'm looking to borrow $120k on my land, in Colorado. Appraised at $535k, currently for sale at $580, owe $242k. Looking for a 24 month minimum term, 12% interest only, 12 months of interest payments placed into lockbox for payment draws. Not looking for mca-type lend. Just straight interest. Thanks.

  • Jstarr
    replied
    If you haven't found a solution outside of mca's, call me, and i'll give you some contacts. True real estate lenders like ourselves offer monthly payments, with rates starting at 7%, not daily or weekly payments.

    Being that its raw land, it doesn't fit our wheelhouse, but I will help you find a home for this that makes sense for your customer that he will be happy with.





    Originally posted by jbrogan View Post
    Hello, i'm looking to borrow $120k on my land, in Colorado. Appraised at $535k, currently for sale at $580, owe $242k. Looking for a 24 month minimum term, 12% interest only, 12 months of interest payments placed into lockbox for payment draws. Not looking for mca-type lend. Just straight interest. Thanks.
    Last edited by Jstarr; 03-27-2019, 12:20 AM.

    Leave a comment:


  • Amine Najmeddine
    replied
    If it's Raw Land - It's hard to find a 2nd Position Hard-Money ! The max Loan to Value in the market would be 50% LTV.

    With that being said - I think the best option here is to pay off the first mortgage and net some cash on top.

    I can present you an offer for free in less than 24 hours if you'd like.

    Thanks,

    Amine Najmeddine / (212)271-8273 / anajmeddine@wbl.com

    Leave a comment:


  • John MAson
    replied
    We specialise in collateralized business funding and will be happy to help you



    John Mason
    Direct: (347) 493-2754 | Fax: 800-709-6110
    Email : johnm@mycapitalfunding.com

    Our Website: www.mycapitalfunding.com

    Leave a comment:


  • lloydmpfunding
    replied
    I may be able to help you out.

    Keith Lloyd
    P - 773.830.4629
    F - 773.341.7493
    lloydmpfunding@gmail.com

    Leave a comment:



































































































































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