[Olderguy]

Lender calls me who is in 9th position

Wedding venue with a $980,000 current mortgage

11 positions:

$424,000 in MCA advances

$233,000 a month in payments plus mortgage payment

Very difficult property. Acreage and liquidity issue

Got a hard money property loan - LOI for 50% LTV on estimated value of $3.6M would be a loan amount of $1.8 M

1% a month interest only payment would amount to $18,000 a month.

Pay off the mortgage of $980,000

Pay off all the MCA advances of $424,000

Leave $400,000 cash out for improvements and loan fees.

3% broker fee I split with broker/lender who sent it to me