Responsible REI Seeking Home Improvement Loan

[Pete Fiannaca]

Hello BP Folks -

I am currently seeking a private money loan in order to do some large-scale work at a newly acquired property. Roof ($7500), Siding ($10,000), and 26 new windows ($8500), need to be done over the next 12 months and I'd prefer to do them all in one shot. I am fully employed in education and work for a union with full employment protections. Currently own a portfolio of 5 units and am much more interested in letting the tenants pay this work off over time rather than tying up a huge amount a capital upfront. Though I'm proposing this as a 10-year loan, I'd be open to a balloon due after 5-7 years if that makes the deal work for a potential investor. 

Proposal

Loan amount: $28,847.50

Rate: 8%

Term: 120 months

Monthly Payment: $350.00

*No pre-payment or early payment penalty after 12 months

Look forward to hearing back soon!

Best,

Pete

607-382-1247