30% Semi-annual Return Available For Private Investor
I am representing a developer in Atlanta looking for a private investor(s) to fund four single-family and three multi-family projects. $100,000-400,000 need per deal with a total request of $1.7 million. 30% semi-annual rate available with first lien security. Proceeds to fund both land purchase and construction (100% financing), hence high return. Very low LTV based on completed value and investor may do one project or all. Prefer investor to fund all seven deals, will be rewarded with same rate for all future deals. 4-6 month turnaround for all projects, full 30% payout applies if less than six months. Immediate timeframe.
So what type of flys are on these deals? These rates far exceed traditional hard-money costs...can you detail?
call me on my cell need nore info.
Ram:
This developer has sources that provide him very cheap land in mid-stage reclamation areas in town. The resulting high margins allow him to offer a substantial return to investors who are willing and dedicated to helping him grow his business. He has had some unpleasant experiences with banks...as a former construction lender I can sympathize with him knowing what I was forced to put borrowers through.
He only develops in certain parts of town and he has established quite a little niche for himself. If you would like more specific details on the individual projects please e-mail me and I'll send them to you.
Any feedback yet with this developer? Send me an email to coordinate. Thanks