Seeking Private money lender for REO duplex.

[Chad Huffer]

I'm looking for a private money investor for duplex deal.  I would like to use these units as additional rental properties.

My goal would be a short term loan with a conventional REFI on the properties when rehab is complete.

I have another rental unit in the same area with a great rental history for eleven years and a very low vacancy rate.

The units are deeded separately.

Quick deal stats per unit are:

• Built in 2007
• Not finished on the inside (Developer Foreclosure before completion)
• 1577 sq ft
• 3 bedroom
• 2.5 bath
• 1 car garage
• Projected rent is $1150.00/mo
• Projected Vacancy rate: 4% (Based on my personal experience with existing rental in the area)
• Purchase: $35,000 or less
• Repair: $35,000 ( My agent's guesstimate... Still awaiting official contractor estimates)
• ARV: $120,000 or more
• ROI: 41.67%
• NOI: 8,286
• CAP Rate: 11.84%

My personal info:

• We currently have two investment properties one in GA and one in TN. We currently own the TN property free and clear.
• We have been renting the GA property 11 years with hardly any vacancy. (usually 1-2 weeks between tenants)
• My total debt is currently about $119,000.00.
• Current income is $146,000.00/year.
• Credit score is 793