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Updated over 7 years ago,
Short term loan with collateral
Hello,
First time doing this so not familiar with the structure but here it goes.
I am a real estate broker and investor, but acting as a broker in this particular deal. I have a client who's looking to purchase a condo, but due to a bankruptcy that was filed 6.5 years ago, we have not been able to get financing the conventional way.
He's seeking short term lender, 16-18 months, and willing to put as collateral, warehouses that he owns valued in the 850-900k range.
Details:
Purchase price: 490k
Down payment: 122,500
Loan needed: 367,500
Condo is located in Miami, his warehouse are located in South Florida.
Any guidance or if interested in underwriting the deal, please contact me. Thanks in advance.