HELP...advice For Structuring A Note
Would welcome some advice regarding a note we are structuring to purchase a pty. We control a SFH at an option price of 165K. We need about 10K to fix it up.
ARV is 300K.
The note would be structured as follows:
Loan amt = 180K
Interest= 11%
Term = 12 months
We would prepay the first 6 months of mortgage payments(9,900) upfront at closing. The LTV is 60%.
Is there anything we can do to make this note "fly out of the door"? Thanks for all your input!!
Check with some local mortgage brokers they sometimes assist investors in finding investment opportunities. You can also run an ad looking for investors in your local newspaper. But do not give too much information in the ad.