This a 2nd lien position on a fix n flip in Gainesville FL.
Expected timeline is 2-3 months (purchase to sale)
Home will need minor repairs to be able to bring to market ($5k)
A promissory note & a recorded mortgage note will be provided.
Simple interest in the amount of 3% will be paid monthly to the lender.
Hey Nick, who is in first position?
my hard money lender.
if by chance you have the full amount to lend (290k) lets talk!
Is the principal ask for $5K?
Apologies – I see now, it’s for $40K. I’d missed the PDF.