35% LTV Private Mortgage Needed for 6-9 months

[Scott McMahan]

I am buying a new primary residence. We have the property under contract and the seller requires cash. Must close by 5/16/16.

Loan Amount: $175,000

Collateral: Three properties, including our current primary residence to be on the market for $159,900 by 6/1/16, a flip house that will be on the market by 5/5/16 for $99,900, and the new house, ARV $240,000+. All are owned free and clear except for a $10K private mortgage on the flip house that will be subordinated.

Exit Strategy: Loan to be repaid in full with interest from the sale of the two houses to be sold this Spring/Summer. 

Loan must close by 5/16/16. 

Interest/points: Negotiable.