Construction Loan Needed for Development of Land
We are currently seeking a Construction / Development loan for 4 contiguous parcels of land. Our plan is to build 4 Single Family Residences, one on each parcel of land, and sell for a profit once constructed.
The land is in Southern California, Near Los Angeles
We are a well established builder and General Contractor in Southern California with an amazing portfolfio and references. We have the in-house team to design, create plans, pull the permits and ultimately build the properties and sell them for a profit.
There is an early exit potential to sell the entitled lots once they have the permits in place, which will also generate a significant profit.
Acquisition Price: $2,400,000
Cost till next phase: $300,000
Total Project Cost: $2,700,000
LTV of Project Cost: 75% (desired - open to other possibilities)
Loan Amount Sought: $2,025,000
Credit: 700+
GC is borrower. Strong Candidate. Ready to move forward.
Financials (USD)
Amount Sought $2,000,000
Use of Proceeds Purchase of Real Estate
Deal Terms
Listed By Owner
Offering Memorandum Or Prospectus Available? Yes
Willing To Pay Finders Fee? Yes
Willing to Co-Broker? Yes
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