Seeking $4MM line of credit (100% collateralized)

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by a searcher from Rutgers, The State University of New Jersey - Camden
in Tampa, FL, USA

1yr ago

Seeking $4MM line of credit (100% collateralized)

We are seeking a $4MM line of credit (100% collateralized) for residential development projects in Florida.

We have acquired approximately 20 lots, with permitting approved for over half of them and builders ready to break ground.

We have built and sold 12 homes in the last 12 months. Are you interested, or do you know a lender who might be?

Key details about our company and request:

Business Type: Residential real estate development

Use of Funds: Lot acquisition, development, construction, and sale of single-family homes

Current Portfolio: 12 homes sold in the last 12 months 6 homes are under construction 2 homes ready for sale 14 lots in permitting
Spec Home Specifications: 3 to 4 bedrooms 2 to 2.5 baths Approximately 2,000 sq ft 2-car garage
Price Range: $395,000 - $410,000

Total Revenue YTD (June 17, 2024): $1,190,500

Collateral Offered:

Liens on approximately 20 undeveloped lots (estimated value $640,000)
Managing member's primary residence valued at $7,500,000 (no outstanding mortgage)
Liens on upcoming development projects
PM me if you are interested.

2 Likes

193 Views

reply by a lender 1yr ago
in Stuart, FL, USA

Thomas, go to redacted every RE lender on the planet is on there. You can find what you are looking for in minutes.

reply by a searcher 1yr ago
in Miami, FL, USA

^redacted‌ thank you for tagging me in this post. Hi Thomas! I work with a company that specialized in funding large acquisition in different methods, I sent you a PM.