Im looking for someone who would like to invest in my deal and would like to build a strong, trustworthy long-term relationship for future deals and investment.
Deal Analysis-
Funds Required: We are seeking $100,000 for the qualifying reserves/down payment for the loan. The annual return on your investment (ROI) will be 12% on this project.
After Repair Value: ● $680,000
Purchase Price ● $500,000
Total Purchase Price (purchase price plus purchase costs) ● $511,650
Construction Costs (Site development, construction of houses, and soft costs) ● $40,000
Monthly Holding Costs (7 months) ● $5,810
Total Loan Amount (total purchase price + construction costs + holding costs) ● $550,000
Return: We are pleased to offer 12% annual APR for this project. $1,000 in interest (based on $100,000 principal) will accrue every month, to be paid out in a balloon payment, along with the full return of your principal, all paid through escrow upon the sale of the property.
Security: A notarized Promissory Note and Mortgage will be issued to the lender, which will be recorded against the property at the Bureau of Conveyances. Our LLC (DRA INVESTORS LLC) is on title as the legal owner of the property. After paying our lender(s), there is substantial equity in this deal. This substantial margin of equity provides additional safety for our lenders.
