In Need Of Financing!
I have a small development that I am looking to get financing for. The development will include 6 townhome units in CO. I am looking for a construction loan rolled over to permanent financing after construction is completed. The land for the project will be signed over to me and I will be looking to use the land as collateral on this project.-- And/or a 80% construction loan on the appraised value of the completed project.
The amount needed to be borrowed is $575,000-$600,000. Land was purchased for $50,000, probably worth $75,000 now. Cash flow will be good with great value and CAP rate.
Is this doable? Where should I start looking for financing? I am open to any and all ideas for financing this project.
Thank you,
Kacey
check local banks
www.c-loan.com
equity partners
SBA (The have a $2M LOC)
im also interested in private money or equity partner.
call me don 360-920-6304