Private/hard Money on apartments

[Benjamin Ficker]

Client had a federal manufacturing charge and serve time in early 90’s which is keeping him from getting regular financing. Now owns a rather successful chain of pawn shops.

Client owns these two properties:

River Forest: $600-$800k equity (Owes $400k)

Oak Shore: At least $1 mil equity (Owes $175k, worth minimum 1.3mil up to 2.3 mil, I haven’t looked at the property, it was a distressed purchase)

Looking for $800k hard money to close on a 43 unit apartment complex. Was under contract for $2.09 mil, he has the 25% down, the $800k additional gets him traditional lending through a small local lender but he would be willing to finance the apartment deal through some private/hard money if it made more sense.

My thoughts are to lien one or both of the properties, when spring hits he will sell off River Forest to repay partial. Not sure of terms on the rest.

Thoughts on who I could take this to?