All Forum Posts by: Sherri D.

Hello,

I have two projects that need funding, here they are in order of importance:

1) I own a 4-unit building in need of immediate refi. Loan maturity date is 12/29/16. Loan balance is $110,200. Calculated value of building $163,600 based on NOI and area cap rate. I am seeking a 12 month (or longer) loan. Property is 100% occupied and cash flows well. Due to timing I am looking for a private lender that sees the value in the project and is looking to put their own money to work. My exit strategy is to refi into a 30 year mortgage after 12 months.

2) I own another 4-unit building in need of $30,000 of rehab. Calculated ARV of building $148,200 based on NOI and area cap rate. This loan only needs to be 3-6 months max. Property is 25% rented due to needed repairs. Plan is to rehab and rent the remaining units then refi into a 12 month or longer loan.

I am willing to cross collateralize both buildings together as well.

If interested please contact me ASAP at [email protected].

Thank you!

Sherri Duncanson

p.s. One of my previous projects I posted on here was funded! Thank you BP!

I own a 4-unit building that has a $30,000 rehab budget I am seeking funding for. Right now there is one tenant. I need to rehab the remaining units before putting other tenants in the building. The ARV of the building is estimated to be $116,500. The rehab should take approximately 4-5 weeks, and another 4 weeks to rent the units. I am seeking a 3-6 month loan for $30,000.

If interested please contact me ASAP. I would be happy to answer any questions and provide a profit & loss and cash flow statement.

Thank you!

Sherri Duncanson

Don't I know it!

Hello,

I own a 4-unit 100% occupied cash flowing building that I need to refinance ASAP. I need a $50,000 loan as gap financing, to be secured by other property I own, plus interest in this 4-unit as well. Terms and interest rate negotiable, but would like at least 6 months. Current loan maturity is 12/29/16 so would have to happen fast.

I have rent rolls, as well as any other application information available upon request. Please contact me at [email protected] if interested.

Thank you!

Sherri Duncanson

Hello,

The loan maturity date for a property I need to refinance is 12/29/16. It has a calculated value of $163,600 based on the NOI and cap rate. The current loan balance is $110,200. I am searching for a 70% LTV or higher loan. The property is a 4-unit building, 100% occupied and cash flowing very well.

ALSO

I have a property under contract that needs to close in 7-10 days for $105,000, that is 57% LTV. This property is a 5-unit building where I already rented 3 of the units in 20 days. They are set to move in after close. The other 2 units should be rented in short order. I also have $15,000 to put down on this project as well.

If interested please contact me ASAP at [email protected]! I have detailed loan proposals complete with profit & loss and cash flow statements available.

Thank you!!

Sherri Duncanson

Hello,

I need to refinance a property I own that has a calculated value of $163,600 based on the NOI and cap rate. The current loan balance is $110,200. I am searching for a 70% LTV or higher loan. The property is a 4-unit building, 100% occupied and cash flowing very well.

ALSO

I have a property under contract that needs to close 12/20/16 for $105,000, that is 58% LTV. This property is a 5-unit building where I already rented 3 of the units in 20 days. They are set to move in after close. The other 2 units should be rented in short order.

If interested please contact me ASAP at [email protected]! I have detailed loan proposals complete with profit & loss and cash flow statements available.

Thank you!!

Sherri Duncanson

Hello,

I need to refinance a property I own that has a calculated value of $163,600 based on the NOI and cap rate. The current loan balance is $110,200. I am searching for a 70% LTV or higher loan. The property is a 4-unit building, 100% occupied and cash flowing very well.

ALSO

I have a property under contract that needs to close 12/20/16 for $105,000, that is 53% LTV. This property is a 5-unit building where I already rented 3 of the units in 20 days. They are set to move in after close. The other 2 units should be rented in short order.

If interested please contact me ASAP at [email protected]! I have detailed loan proposals complete with profit & loss and cash flow statements available.

Thank you!!

Sherri Duncanson

Yes, I have. I have not found any yet. I just need a loan for about $7,000-$8,000 and own land worth $15,800.

Hello, anyone know anyone that would provide a loan with vacant land as collateral?

Hello,

I hope this message finds you well! I have two properties under contract I am seeking funding for.

Property #1

A 4-unit building under contract for $39,000 with $20,000 of rehab that has a calculated ARV of $148,200 using the Income Comparison Approach. It is your choice of 1st or 2nd lien position depending on if you would like to fund some or all of this project. If seeking 1st lien position then I am seeking a loan for $59,000 (39.8% LTV) to cover the purchase and rehab costs. I will pay for the 3rd party closing costs. If seeking 2nd lien position I have already secured funding of $46,750 and the lender is requiring additional funds of $25,000 to cover remaining costs (includes lender loan fees). Total loan to value is only 48.4% ($46,750 + $25,000/$148,200). I am seeking up to 15% APR for 6 months, interest payable whether I prepay or not. If 2nd lien position, I am willing to also pay an additional 5% on equity pay out.

Property #2

A 5-unit building under contract for $105,000 with $30,000 of rehab that has a calcuated ARV of $228,500 using the Income Comparison Approach. Again, your choice of 1st or 2nd lien position. If seeking 1st lien position then I am seeking a loan for $135,000 (59.1% LTV) to cover the purchase and rehab costs. Again, I will pay for 3rd party closing costs. If seeking 2nd lien position I have secured most of this funding as well and only need $25,000 to complete the deal. So as with property #1 I am seeking a loan for up to 15% APR for 6 months as well. Interest again is payable whether I prepay or not, plus an additional $2,000 equity payout at loan refinance.

If interested in both or just one of these deals I do have formal loan proposals complete with profit & loss and cash flow statements, and would be happy to provide them to you. Time is of the essence as well as they need to be closed by November 30th. There may be a 5-7 day grace on that if a close date can be solidified before November 30th.

Please do not hesitate to contact me with any questions!

Sherri Duncanson

Evans Investment Company, LLC

[email protected]

(269) 377-3555