18% APR funding needed in MI
Hello, I have a 9-unit building I am purchasing with an ARV of $656,300, total project cost $403,390 only 61% LTV. I am looking for a private investor for $80,000 looking to put their money to work for them at 18% APR for 1 year to fill in the funding gap on this project, 2nd lien position. 1st lien position is available if the entire $403,390 was invested, but would have to offer 15% APR. So $80,000, 2nd lien position, 18% APR or $403,390, 1st lien position 15% APR. I have a detailed loan proposal available to those interested and would be happy to answer any questions or provide any other information. Thank you for your consideration!
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