My name is Jonathan Goins. I am a licensed, bonded and insured general contractor with cold climate building certification, which is an additional requirement in the great state of Alaska. I have 10 children – 3 of which are grown. Those children come from the same parents – no twins or triplets – not Mormon or Catholic but definitely Christian – and yes we know what causes that.
I have purchased a 4-plex that I am renovating 2 of the units. One unit is nearly complete and the other is still under heavy renovation.
I am looking to borrow 360K at 12% interest. The lender would be in the first lien position on the fourplex that just appraised for $620,000 After-Repair Value. I would pay $4500 per month until the units are all completed at which time I would refinance. It is my ultimate goal to get a HELOC and use velocity banking but I am unable to do that until all construction is complete. At 12% interest the lender would make approx. $41k in interest in the first year. Here is a breakdown of the payments for a year:
| Payment | Balance | Month principal | Month interest | Total principal | Total interest | |
| Month 1 | 4500 | 350000.00 | 1000.00 | 3500.00 | 1000.00 | 3500.00 |
| Month 2 | 4500 | 349000.00 | 1010.00 | 3490.00 | 2010.00 | 6990.00 |
| Month 3 | 4500 | 347990.00 | 1020.10 | 3479.90 | 3030.10 | 10469.90 |
| Month 4 | 4500 | 346969.90 | 1030.30 | 3469.70 | 4060.40 | 13939.60 |
| Month 5 | 4500 | 345939.60 | 1040.60 | 3459.40 | 5101.01 | 17398.99 |
| Month 6 | 4500 | 344898.99 | 1051.01 | 3448.99 | 6152.02 | 20847.98 |
| Month 7 | 4500 | 343847.98 | 1061.52 | 3438.48 | 7213.54 | 24286.46 |
| Month 8 | 4500 | 342786.46 | 1072.14 | 3427.86 | 8285.67 | 27714.33 |
| Month 9 | 4500 | 341714.33 | 1082.86 | 3417.14 | 9368.53 | 31131.47 |
| Month 10 | 4500 | 340631.47 | 1093.69 | 3406.31 | 10462.21 | 34537.79 |
| Month 11 | 4500 | 339537.79 | 1104.62 | 3395.38 | 11566.83 | 37933.17 |
| Month 12 | 4500 | 338433.17 | 1115.67 | 3384.33 | 12682.50 | 41317.50 |
I am new to Private Money club and I am just getting started with infinite banking. I hope to be a lender in the future but for now I am content to help others make money instead of the big banks. I need to close this deal by August 1, 2024 so please consider the deal and contact me as soon as possible. You can contact me by calling or texting 907-444-6835 or email outsidetheboxjon@gmail.com
Oops, I posted the numbers for 350,000. here are the numbers for 360,000:
Payment Balance Month principal Month interest Total principal Total interest
Month 1 4500 360000.00 900.00 3600.00 900.00 3600.00
Month 2 4500 359100.00 909.00 3591.00 1809.00 7191.00
Month 3 4500 358191.00 918.09 3581.91 2727.09 10772.91
Month 4 4500 357272.91 927.27 3572.73 3654.36 14345.64
Month 5 4500 356345.64 936.54 3563.46 4590.90 17909.10
Month 6 4500 355409.10 945.91 3554.09 5536.81 21463.19
Month 7 4500 354463.19 955.37 3544.63 6492.18 25007.82
Month 8 4500 353507.82 964.92 3535.08 7457.10 28542.90
Month 9 4500 352542.90 974.57 3525.43 8431.67 32068.33
Month 10 4500 351568.33 984.32 3515.68 9415.99 35584.01
Month 11 4500 350584.01 994.16 3505.84 10410.15 39089.85
Month 12 4500 349589.85 1004.10 3495.90 11414.25 42585.75