Need Hard Or Private Money For 40 Units In Jacksonville FL ASAP
Finally, I have a signed offer for my 40 units in Jacksonville, I have experienced property management secured already for rapid lease up, I need $625,000 for purchase($15,625 a unit), currently assessed @ $846,300 ( Last year assessed @ $1,166,700). 20 units are 95% renovated and the other 20 units need 40-50k(total) still in renovations to be leased up. So basically, I believe I need around $675,000 + appraisal . Another development around the corner with 20 units leased up under 30 days. Rapid lease ups. Short term loan needed. Great returns for the investor!!
Can anyone help me get private or hard money asap? Angel investors?
[ Edited by realtor111 on Date 11/20/2009 ]
Like most larger cities, Jacksonville has a wide variety of neighborhoods. From elegant to horrible.
How much of your own money are you willing to invest in this venture? Are you looking for partners?
What is the property address?
[addsig]
I really dont want to put any money down on this particular deal, the numbers are great. If I dont get a hard lender by monday, I will definitely consider a partner. Ive only read the due diligence package and it said it was a great location. Ill be driving up there this week to inspect.
We have private lenders that love deals like yours.
However the investor needs to put down at least 10-15% of his own money in the project. The interest rate is between 10-12%. If your interested let me know.