Seeking $7.0M Equity or debt comb on 16 AC project

Financing, Hard Money Lenders, Private Money
1

First time poster! Thansk for the responses…

I tied up a 16 AC parcel in the Lake Havasu area.

Our engineering team met 6 times with the San Bernando Co. planning dept. We have very favorable responses and will fly our entitlement phase within 4 months.

The unique aspect of this deal is that the Indians have owned ALL the land on this side of the lake for over 300 years. We have tied up the only NON-Indian water front lot that exists.

Our engineering dept has determined that we can divide the land into 64-70 lots with little problem.

We have committments from 25 people paying an initial $380K (with manufactured home). The deal breaks even is 24, the balance of the land is pure profit…approx $13,000,000.00

We signed a contract to purchase the land for $4M, which is $3M under valued right now. We are paying investors a 40% yield in year 1 and 70% if we go past 12 months.

Thanks for the responses and interest…

Corey Goldstein

2

Don’t understand. If you have already pre-sold 25 and 24 is your breakeven, why do you need investors?

3

I can go with 70% on the appraised land value…

4

Thats fine. I will call you.

Corey

5

Your application would be mostly incomplete. The deal is equity and debt. Its financing an LLC. We would go through the stpes, but would like to get some background on you. Is that possible?

6

Try www.lendinguniverse.com for this loan amount you will get 6 good lenders bidding up in 24 hours. Registration is free and service is very efficient and friendly. Since lendinguniverse.com does not collect any commission you will get true competition between rival lenders. :slight_smile:

7

WOW! Thank youvery much

8

Corey,

Let me know if you still need this done.