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Updated over 1 year ago on . Most recent reply
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open to 6ish % private loan secured by property
i have 4 properties and 27 tenants in socal over 4 properties. all props have fixed loans at less than 3.8%. I have $3.1M in equity. looking to build adu's and jadu's and looking for $500ish K. Anybody can point me in right direction would be fantastic. Sorry if this is the wrong forum....always open to learning thanks I might also ask does this equity information provided to public may open me up to scammers and crooks? thoughts?
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Quote from @Rudy Dvorak:
i have 4 properties and 27 tenants in socal over 4 properties. all props have fixed loans at less than 3.8%. I have $3.1M in equity. looking to build adu's and jadu's and looking for $500ish K. Anybody can point me in right direction would be fantastic. Sorry if this is the wrong forum....always open to learning thanks I might also ask does this equity information provided to public may open me up to scammers and crooks? thoughts?
are you looking for financing around 6%. That is not gonna happen. If its private money expect to pay 10-15% (probably closer to the latter). Your best best wouuld be to see if you can get a LOC from a bank or another lender.
- Chris Seveney
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