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the owner is looking for a $1,000,000 loan for a 2nd mortgage on the property in Frederick CO 80504. Hoping for 8% or better.
The loan will be contributing to building a $4.5M value solar farm, a $500K value ADU for rental income, and secured by the $2M value SFR already on the property and rented out. Total after improvement value of $7M, and a debt of $900K existing mortgage-NOT refinancing that as it is lower than 3%, and the $1M 2nd mortgage.
The solar farm is also being supported by grants, selling the tax credits and efficient construction.
After improvement revenue:
$20,000 Net from the solar farm
$4,000 Rent from the ADU
$5,2000 Rent from primary dwelling
$29,000 Gross Monthly Revenue
-$4,500 1st Mortgage
-$7,300 2nd Mortgage
$17,200 Net Monthly Revenue
Please let me know if you have a program for this, and what documents you need, thanks.
anthony 646 202 0095
anthony@simonsaysfunding.com
The loan will be contributing to building a $4.5M value solar farm, a $500K value ADU for rental income, and secured by the $2M value SFR already on the property and rented out. Total after improvement value of $7M, and a debt of $900K existing mortgage-NOT refinancing that as it is lower than 3%, and the $1M 2nd mortgage.
The solar farm is also being supported by grants, selling the tax credits and efficient construction.
After improvement revenue:
$20,000 Net from the solar farm
$4,000 Rent from the ADU
$5,2000 Rent from primary dwelling
$29,000 Gross Monthly Revenue
-$4,500 1st Mortgage
-$7,300 2nd Mortgage
$17,200 Net Monthly Revenue
Please let me know if you have a program for this, and what documents you need, thanks.
anthony 646 202 0095
anthony@simonsaysfunding.com
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