Loan Request

Presented by
Joshua Allen
Joshua Allen

Jae Rhys

Created On: January 25th, 2018

Updated On: January 25th, 2018

Loan Request in Parkersburg, WV

Amount: $35,000

Interest Rate: 12%

Duration: 1 Years

Loan to Value: 40%

Category: Real Estate

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45k spread on a house with no rehab.

Posted on January 25th, 2018| Updated on January 25th, 2018| by Joshua Allen

I own I currently put a house under contract for 35k the house as it sits is worth 90k. Ready to live in. I have listed it for 60k cash and have received 2 offers from my buyers list to buy it for 50k. If I could take title I could increase my margin 3 fold. I want to borrow the 35k I pay closing costs and take title. Then I could sell it as my property instead of my contract. I would then list for 90k and sell between 80-90k. Total profit at 80k sale is 45k. I have wholesaled 4 properties in the last 2 months. I want to pay 12% interest to the lender when the house sells. Also the lender could be the lien holder on the property to secure their investment by the property.

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