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Updated about 7 years ago,

User Stats

8
Posts
1
Votes
Frank Longo
  • Rental Property Investor
  • PA
1
Votes |
8
Posts

Private lending in Connecticut

Frank Longo
  • Rental Property Investor
  • PA
Posted

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

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