Seeking Private money, 380k with 12% Int Only, for 27 unit TH Development

[Zach Matson]

I have a 27 unit townhouse subdivision downtown Caldwell(suburb of Boise, ID) that I am currently applying for entitlements. Roundtable has been done and the city is very much on board with this project with this layout. I will be doing a 506c and 506b fundraise for this development down the road, but for now I am looking for a private money investor to fund a portion of the purchase and development costs while I complete the infrastructure to set up the fundraising. Can provide more details on this if interested. For now, I am looking for a $380k private money loan for between 6-12 months, and will pay 12% interest only(1% per month). Loan will be in 2nd position behind seller carry note, and the deal is 74% debt to value, conservatively(based on similar deals that actually are selling). Private money investor may have the option to convert to an equity share upon completion of the fundraise if they prefer, but not required. Shoot me a message if you're interested!