We have a client with the following scenario, let me know who could assist us in this deal. Please PM only. Thanks

The property is a single family home at Wolfram. The all in costs including property and construction are $500,000 US Dollars. The property has been secured already. The property is in a fantastic area in Chicago called Logan Square. It is next to a very affluent area called Bucktown where house prices are over one million dollars each.

We will renovate the property and extend the property from its existing 1800 square feet to over 3000 square feet.
The rehab will also lift the ceilings on each floor by 10 feet which will look fantastic. The back of the property is being extended significantly as well. I have attached architects drawings so you can see work to be undertaken.

The ARV is conservatively - $650,000-680,000 . I have CMA's that are between $680K and $720K however I want to sell the property as quickly as possible and will list at $669,000.

The loan will put you into a second mortgage position behind Guaranteed Rate who will be lending the remaining $350,000.

As mentioned $500,000 is total cost of land and construction and having completed over 200 projects I have allowed for worst case scenarios on pricing.

Time frames are 5 months for construction and 3 months for sale and closing time. Loan will be repaid in full on closing of the property.

If you want to be in first mortgage position you can fund $500,000 with a secured return of 12% Net.

I always want to exceed expectations so have requested 10 months although project will likely be completed under this.

Client have previously worked as Head of Construction for an international investment fund, Colonial Capital, the investment fund acquired value-add homes in Chicago and divested these assets as operational cash flow assets to investors in Dubai and China. In this role I was responsible for sourcing and rehabbing over 114 properties in several years. He have in-house construction teams that I work with who have worked on similar projects many times so the speed and quality is very high.