Bridge Loan - Short term - 12% return, 100% passive

[Matt Motil]

I purchased an apartment building (28 unit) in a B neighborhood in Cleveland at the end of 2018 (44135 zip code). The building was purchased for $1,000,000 and the as-is appraisal came back around $1,250,000. As completed, should appraise around 1.4-1.5. I have a first position for 845k. Looking for a 6-month private money loan for $200k in the second position. We will be refinancing long-term during this time.