I am a 63 yr old woman, my husband of 30 yrs died unexpectedly a few years ago, its been tremendously hard but I'm trying to keep going.
I have a project as collateral first lien position that is New Mexico a 20 acres pre-approval for 95 lots for sfr homes and Texas a 1.2 acres sfr home.
CMV $1.9m and $275k
ARV $4.5m and $400k
32% LTV CMV $2,175,000.00
14% LTV ARV $4,900,000.00
I need a $700k loan to pay $400k to seller for land and $100k for excavation, grading, clearing, and etc and $200k remodeling
Use of Proceeds: complete horizontal development improvements and position project for vertical construction/sales.
I will start getting pre-orders for lots for $50k each to your escrow account to pay it off in full plus jv partnership 60% profit split to investor and 20% to broker within 6 months.
I look forward to working with your group for a long time.