Tuesday, July 27, 2010
PRIVATE FUNDS WANTED
I am looking for up to $50,000 in funds, in which I am already earning 8% interest. $50,000 X 8% = $350/month.
I own a buildable .7acre parcel of land in W Bremerton, free and clear. The lot includes a 750 sf 3-car garage with its own electrical service, an easement driveway through the property, and access to City of Bremerton water. This lot is generating $350 per month in rent for the use of the three-car garage and RV carport. It is tax-appraised at $98,000. An investor who makes a private loan, up to $50,000 will earn 8% interest ($350/month on $50,000), and their funds will be secured in a first lien position on the lot. The Loan-to-Value of this lien is 51% (LTV).
The buyer of the adjacent waterfront house parcel wants to buy this lot in 1-3 years, so anyone investing with me would be cashed out within this time frame. If you or someone you know may be interested in investing $10,000 - $50,000 to earn an 8% return secured by this income property, please let me know.
For details on the property, please see MLS #83813 and the Postlets link below: