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Updated over 2 years ago on . Most recent reply

User Stats

15
Posts
9
Votes
Nicholas Landis
9
Votes |
15
Posts

Looking for a Private Money Lender for Austin, Texas 78701

Nicholas Landis
Posted

Looking for introductions or recommendations for a Private Money situation, that can lend on a new construction investment condo.

Under contract to pay $1,080,000 for a 2/2 with 1,260 sq ft. 19th floor. Existing comps support $1,350,000-$1,450,000,

Pre-construction condo comps that haven't closed yet in the unfinished "Modern" building on Rainey, support over $1,500,000+

We already have 10% (108k) down payment in Escrow, and looking for a lender that can lend on this unit with no additional down payment.

Previous lender is not able to preform.  They were a PML that quoted us originally with our 10% down and significant appreciation equity. 

Closing is 9/9, but can be extended.

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