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08-30-2017, 02:45 PM #1
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
Seeking completed construction funds 1m
I have a multi condo building and parking lot, needing funding to complete building. Specs from borrow. (Summary available for capable)
We have structured the capital stack with debt and equity. As you will see on thesummary, this is an outstanding location and we only need a loan forabout 1m. The challenge is that we need a non-recourse loan as we are converting the existing trust to aa single purpose LLC and the investors will not provide a personal guarantee. I would think that in most cases that shouldn’t be a problem given that our LTV is about 42%. We will use the debt after the equity cash is spent so the loan will not kick in until we are down the road on the construction.
Thank you for yalls input
DFW Texas based project.
Steven jones
2102904102
www.davincinc.com
Support@davincinc.com
Mobile email davincinc@outlook.comLast edited by Davincinc; 08-30-2017 at 03:26 PM.
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