Private Funding on project w/ guarantee

[Jason Meyer]

I own an investment company that bought a chunk of land across the street from the ocean in Florida. The land is developed and is set up for 17 houses. We have the numbers figured out and are selling the houses at .75 on the dollar. I have commitment from 12 investors already with LOI's and downpayment ready. We bought the land with our own out of pocket money but need 900K to get everything else started. We have financing in place that will take 60-90 days to get done. Since this a short term notice we are paying 70% (630,000 + 900,000) return on investment in the 60-90 days for using the 900K. The return will be guaranteed by real estate. The investor can put a lien on a house that is ocean front in Florida. It is a 5.5 million dollar house at 60% LTV right now. We will also have a personal guarantee written up by an attourney stating that we will forfeit everything we own if the loan is not paid back. If anyone is interested or has any questions let me know.