Hi everyone,
I have a short term lending opportunity in East Texas with some very strong collateral. Owner is selling property, but cannot make payments while he waits for a buyer, which he expects in the Spring. Property includes:
30 acres with lakefront restaurant, fishing pier, beach (total 1500 ft of lake frontage), RV park, 8 room motel, and 3 cabins. Property has about 7000 likes on Facebook and brings in well known bands to play throughout the Summer season. Seller claims to have $1.2MM in th property, but thinks the property is worth $650k (really difficult to value because of uniqueness), but he will sell for $500k or possibly even less.
He is looking for a loan of $215k to buy him out of the note + fees, plus provide some cash until an eventual sale. Here are the proposed terms:
No interest, no payments for 6 months while he is trying to sell property.
Upon sale, Note investor receives $250k plus 50% of any sale amount over $500k. This could be a fantastic return on investment, secured by lots of collateral.
If you or anyone you know might be interested in this type of investment, let me know quickly.
Mike
817-874-9816
