All Forum Posts by: Kurtis Morris

My partners and I have several lots in Chattanooga, TN. We are seeking a private loan of $175,000 collateralized by four lots. We plan to use the money to develop two lots in the same neighborhood. The lots are located in a highly desirable Chattanooga Neighborhood. My partners and I each have ten years or more of experience in Real Estate Investing, including buy-and-hold, new construction, Wholesaling, and fix-and-flip.

Desired terms:

15% APR

18 month term

No prepayment penalty.

LTV 50%

If you are interested, please get in touch with me.

Sincerely,

Kurt

Let me know if you want more information or if you would like to schedule a call. 

Thank you

Chad,

The lots are located in St Elmo. A popular neighborhood on the Southside of Chattanooga. Please let me know if you have any questions and we are happy to pay a finders fee.

Thank you

My partners and I have several lots in Chattanooga, TN. We are seeking a private loan of $175,000 collateralized by four lots. We plan to use the money to develop two lots in the same neighborhood. The lots are located in a highly desirable Chattanooga Neighborhood. My partners and I each have ten years or more of experience in Real Estate Investing, including buy-and-hold, new construction, Wholesaling, and fix-and-flip.

Desired terms:

15% APR

18 month term

No prepayment penalty.

LTV 50%

If you are interested, please get in touch with me.

Sincerely,

Kurt

Investment Info:

buy & hold investment in Chattanooga.

Purchase price: $375,000
Cash invested: $80,000

Commercial property with 11 offices and warehouse space.

What made you interested in investing in this type of deal?

Residual Cash Flow

How did you find this deal and how did you negotiate it?

Real Estate Agent we offered what we could pay to make the numbers work and the seller was amicable.

How did you finance this deal?

Bank

How did you add value to the deal?

Adding 2200 Sqft

What was the outcome?

11 offices, event space, conference room and warehouse space.

Lessons learned? Challenges?

Get quotes for all the work!

@Lynie Arden

Sorry for the late reply. If still interested in Chattanooga properties PM me.

Thank you!

@Greg Dickerson

We plan to build on this portfolio of lots and land over the next 1-3 years. I’m trying to land bank some of the deals that I have under contract at a deep discount to preserve cash. I have some banks providing AGLs to take the land down and fund the construction but I’m reaching capacity with most of my banking relationships. Thank you for the response!

@Greg Dickerson

Thank you

@Pavan Sandhu

Thank you

I am a developer in Chattanooga,TN  and having been investing in this area for 14 years. I am still having trouble finding a lender with good terms for lots and land. Does anyone know of a hard money lender, bank or private equity firm that lends on lots and land? Any help would be appreciated. 

Thank you