1.00 $ Seeking $80,000 Collateral Secured (Being Real Estate) Short Term Loan Birchwood Village

Published date: June 11, 2024
  • Location: Birchwood Village, Minnesota, United States

Seeking $80,000 Collateral Secured (Being Real Estate) Short Term Loan


⭕ Offering a MINIMUM of 10.0% return for the first year of the loan (this first 12 month percentage is negotiable).
My house burned down, and this loan is to improve the house, shop and land past what the insurance company owes me. Once completed the house will be marketed and sold, which you will be paid back in the form of a single balloon payment at the time of closing.
The first year is locked in at a guaranteed 12 month return (minimum $8,000 return on your money, which will be worked through a title company so the debt will be on public record).
Once our agreement is documented through a title company and the deal is done, you are then entitled to a 1 year payout minimum. No matter if I need the money for 4 months or 10 months, I will pay you for a full year at the percentage rate in which we agree to. After that, if for some reason the house hasnt sold and more time is needed, an additional 48 months at a fixed 8.0% on the capitol of $80,000 is agreed to. I am marketing the house as soon as it is completed (more information below in Terms, more closely defined)

Overview:
My (insured) house suffered a massive house fire, resulting in 80% of the house needing to be replaced with new build. Although I am owed a nearly complete new house, I would be essentially stuck with an undesirable floor plan and only moderate finishes in this stick-built home.


I am seeking a private investor to assist me with seizing the opportunity to elevate the house and property.
As soon as its complete, I am marketing the house and it is projected in this market to not stay on it long.
Among other improvements and upgrades to the house, the single car garage is being converted into (permitted) living space.
Check the median price per sq. ft in Douglas County. The sq. footage of the garage conversion is over 400 feet. Just this boost in equity alone exceeds the loan amount.

Terms, more closely defined:
For the investor prepared to assist me, the first 12 months (based on a 365 day year) will be fixed at the locked percentage rate in which we will negotiate and agree upon. This means, at any point in the first year that the house sells, your margin will not be prorated, altered or renegotiated. You will have a minimum guaranteed rate of return of that dollar amount, based upon the first years APR.

There will be a single balloon payment upon the sale of the property which will compensate you in full as to what is owed. No monthly payments will be made on this loan, as each dollar is clearly going to be utilized. So it is important that you are comfortable to put this money to work for a minimum of 1 year, and up to five years. It will also be clearly stipulated that the lender will not call the loan due inside the five year duration.

(For what its worth, I honestly do see everything being completed, and the property selling inside the first 12 months. Having this house built is both my wife and my full time job. This is what we are strictly focusing on until it is complete)

If the house does not sell within the first year, then based upon a 365 day year, the $80,000 principal (not the principal and interest combined sum) will then be at a fixed 8.0% ($6,400 a year) or accruing at a rate of $17.53 a day until the loan is repaid in full. This window will be open for a maximum of four years (48 months) past the fixed rate first year.

This process will go through a title company of our mutual choosing. Everything will be fully documented and recorded for both of our protection, as you will clearly be a lien holder. I also want to see the loan insured, as some of the title companies I have talked with are willing to insure it. I want to see this constructed to be as safe as possible, and it will be for the both of us.

There are no liens on my property, and this can be confirmed through a title companies search. This is a free and clear owned house and my investor would be first in line to be paid back upon the sale of my land. Once construction begins (It is past the engineering stage and I am now waiting on my permits to be issued) I am assuming the role of owner/builder, to over see and limit any money devouring general contractors from siphoning off the houses allotted capitol. I have a very close eye on this build, and each sub will be paid in full when their work is complete. No debt load will be held on this aside from my loan agreement with you , so when the house sells, you arent standing in a line.

The Plan:
The pictures in this ad are of our other residence in N. Reno. The work you see being done here was executed by my wife and I, which the same caliber of detail and even the paint scheme used on this house will be applied to the house we are now beginning to build in Douglas County, as the colors and stone veneer turned out to be absolutely striking.

The last few pictures are of the house itself in its current condition. The property is protected by 6 security fencing and is under surveillance.

The trusses, wiring, plumbing, entire roofing system, siding, windows, drywall, over HALF of the structure itself, Heating and Air conditioning systems, appliances, flooring, finishes will all be new.

I am opposed to accruing credit score damaging lending inquiries and going though the banking systems (not to mention a then reportable debt load to the 3 bureaus) Id rather see the profits go to an individual investor than I would say, a credit union.
The rewards of venture capitalism philanthropy.

Bottom line, this will be a nearly 100% brand new custom home, at the end of a 1/2 mile long street (nearly no traffic) which sits on an acre with full backyard/side yard views of the foot of the Tahoe Mountains, with an existing 1,800 square foot shop (part of the funds are slated to improve this nearly business-ready on site building), zoned equestrian, fully fenced and a comprehensive landscaping plan that is within 2 miles or less from all the shopping/resources one could hope to have. It is projected that my house will do EXCEPTIONALLY well once it hits the market, meaning you could very well capture your profits by Labor Day 2017.

My name is Don. I can be reached at the number behind the REPLY button and am open to any questions you may have right now.

I look forward to doing business with one of you


Phone number ✆ +1 507-472-7104

Birchwood Village, Minnesota

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