I’m offering 2 points and 12% interest for a $15,000 2nd position loan for a maximum of 6 months. No prepayment penalty.
I’m planning to close later in July on a single family home near State College, PA. We’re buying with a wrap mortgage under market value, no money down. We will be getting the seller caught up on about 4k in late payments owed to the bank (not in foreclosure). Our dispo strategy is lease option, and we’ll use the non-refundable option deposit to pay off the loan in no more than 6 months. The 15k is to cover closing costs and back payments, about 2-3k in minor cosmetic work (contractor estimate already received), and holding costs until the home is rented.
We could close this without borrowing the funds, but we would like to maintain scalability and would LOVE the opportunity to develop a new PML relationship. Let’s make some money together!
I can’t receive messages through the platform, so please reach out to my email (oldcellarcreekventures@gmail.com) or by phone/text – 814-549-9336.
Send me all the details, the deal proposal and any specifics like personal financials. Brandon@chrisnaugle.com
Details sent to your email. Thanks!