13-19%, First Lien, Private Loan Requested

[Trevor Ewen]

I have a friend in New Jersey looking for a $150k private loan. He is willing to pay a high interest rate in the 13-19% range. 

1. Loan can receive first lien on two, fully-owned properties that would (together) appraise more than $1MM dollars. There is no additional financing on either property.
   
2. He has poor credit, which is why he is seeking the loan. But, both properties have tenants and produce reliable cashflow.
   
3. Term is likely in the 24-36 month range, but that would be negotiated with the borrower.
   
4. He will pay for attorneys to paper up the deal so everything looks good from the lender's perspective.

To give you an idea, I have already offered $40k at 13% for a 13 month term. I am unable to go higher than that due to my own liquidity constraints, but I think the deal is strong and should be considered for anyone who likes this market, in particular. The homes are in Weehawken and Union City. The Union City property is a multi-family.

Please inquire with me to start, and I will have you on the phone with him if it makes sense.