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Updated about 7 years ago,
Private lending in Connecticut
Investors,
Recently purchased duplex that we about to start the renovation on. We are looking for private / hard money lenders to fund the project. Below are the numbers.
Purchased: $41,600
Reno: $70,000 - $75,000
ARV: $165,000 based off CMA (will be slightly higher due to value adds)
Rents: approximately $2,500 monthly
Property address: 619 Boswell Ave, Norwich CT 06360
We are looking for a loan in amount of $60k - $75k with a term of one year. Will give 1st lien position. Will refinance with local bank after 6 months at 75% LTV ($122k)
If interested, please let me know.
Thank you.
Frank
Offering