[Red]

Scenario:

State:
Florida

Property Info:

- 14 Acres
- Waterfront
- $4,200,000 as is value
- No debt on the property

Developer is building a 120 Unit Condominium building on the land.

Only about half of the units need to be sold to earn a profit. The remaining units will be leased as short term vacation rentals on airbnb, vrbo, etc. to earn revenue. An experienced management team will be brought in to run the daily operations of the building for both residents and tourists.

Total construction costs will be around $34,000,000
Total sale price for all units will be around $80,000,000

Location is near beaches. High tourism area.



The property adjacent to the developer's land is available for sale. Asking price is $5,000,000. The developer intends to purchase the adjacent lot, combining the two properties. The adjacent lot currently operates as a yacht club & marina. There is a restaurant, bar, event space, and around 20 boat slips. By combining the two lots, around 100 boat slips can be available for the marina. The restaurant, bar, and event space will be renovated and opened to the public. An experienced team will be hired to run the daily operations of the restaurant/bar, and book events such as weddings and conferences in the event space. The space will generate revenue for the condo management company.






Please reply or send private message if you know of private lenders or investors who can provide the funds to get a project like this one completed. Thank you

[Olderguy]

I've spoken to the prospect and it's not a construction loan as you might figure the way they want to do it. They were looking for debt/equity deal but don't have the 20% contribution. And it's very convoluted situation...purchase, rentals, very hard to get a head around it. Nobody here would entertain this deal.

And if you signed a NDA like I did, this isn't appropriate as it violates the NDA.

[Red]

Thank you for your response. Yes, thank you. That is why I kept the information vague didn't say the address or developer's name so I don't disrespect their privacy. Was hoping to find a solution for the client on this site. Unfortunately looks as if it can't get done. I appreciate your assistance and time.

[Yankeeman07]

Scenario:

State:
Florida

Property Info:

- 14 Acres
- Waterfront
- $4,200,000 as is value
- No debt on the property

Developer is building a 120 Unit Condominium building on the land.

Only about half of the units need to be sold to earn a profit. The remaining units will be leased as short term vacation rentals on airbnb, vrbo, etc. to earn revenue. An experienced management team will be brought in to run the daily operations of the building for both residents and tourists.

Total construction costs will be around $34,000,000
Total sale price for all units will be around $80,000,000

Location is near beaches. High tourism area.



The property adjacent to the developer's land is available for sale. Asking price is $5,000,000. The developer intends to purchase the adjacent lot, combining the two properties. The adjacent lot currently operates as a yacht club & marina. There is a restaurant, bar, event space, and around 20 boat slips. By combining the two lots, around 100 boat slips can be available for the marina. The restaurant, bar, and event space will be renovated and opened to the public. An experienced team will be hired to run the daily operations of the restaurant/bar, and book events such as weddings and conferences in the event space. The space will generate revenue for the condo management company.








Please reply or send private message if you know of private lenders or investors who can provide the funds to get a project like this one completed. Thank you

You are omitting many details - I live in Florida - a Yacht Club & Marina for $5M with existing operational business?
Zoning Issues come to mind - Residential Condos' attached to commercial property?

Call me to discuss

[Olderguy]

Dave....guys claim years of development experience yet they don't have lenders that can work with them? Started October 2022 and raised $250,000 so far in stock offering. Turned down two LOI's and one was 100%.

[csheriff01]

We are offering a 3 points bonus on all new files that funds in the month of may.. Let's close out the month strong!! Email or call me to become an ISO partner Our Portal is Amazing! You can easily drag and drop your deal with minimal notes OR you can submit by sending a full submission package to DEALS@MERCHANTMARKETPLACE.COM & CC CEDRIC@MERCHANTMARKETPLACE.COM Cedric Sheriff Business Development Head Of ISO Relations 360 RXR Plaza Uniondale, NY 11556 Cell: (347) 813-3957

[Bcooper]

We are offering a 3 points bonus on all new files that funds in the month of may.. Let's close out the month strong!! Email or call me to become an ISO partner Our Portal is Amazing! You can easily drag and drop your deal with minimal notes OR you can submit by sending a full submission package to DEALS@MERCHANTMARKETPLACE.COM & CC CEDRIC@MERCHANTMARKETPLACE.COM Cedric Sheriff Business Development Head Of ISO Relations 360 RXR Plaza Uniondale, NY 11556 Cell: (347) 813-3957

buddy read the room and gtfo out here with you spamming ass.

[Bcooper]

Dave....guys claim years of development experience yet they don't have lenders that can work with them? Started October 2022 and raised $250,000 so far in stock offering. Turned down two LOI's and one was 100%.

sounds like an absolute **** show.

[mross@LENDBUG]

Scenario:

State:
Florida

Property Info:

- 14 Acres
- Waterfront
- $4,200,000 as is value
- No debt on the property

Developer is building a 120 Unit Condominium building on the land.

Only about half of the units need to be sold to earn a profit. The remaining units will be leased as short term vacation rentals on airbnb, vrbo, etc. to earn revenue. An experienced management team will be brought in to run the daily operations of the building for both residents and tourists.

Total construction costs will be around $34,000,000
Total sale price for all units will be around $80,000,000

Location is near beaches. High tourism area.



The property adjacent to the developer's land is available for sale. Asking price is $5,000,000. The developer intends to purchase the adjacent lot, combining the two properties. The adjacent lot currently operates as a yacht club & marina. There is a restaurant, bar, event space, and around 20 boat slips. By combining the two lots, around 100 boat slips can be available for the marina. The restaurant, bar, and event space will be renovated and opened to the public. An experienced team will be hired to run the daily operations of the restaurant/bar, and book events such as weddings and conferences in the event space. The space will generate revenue for the condo management company.






Please reply or send private message if you know of private lenders or investors who can provide the funds to get a project like this one completed. Thank you

We may be able to help. Get in touch.

Our Asset Based Lending Criteria:

- Non-primary residences only
- Commercial and investment properties only
- funding up to 50% LTV
- Up to 18 month terms
- Funding in as quickly as 5 days
- 10 point commission

Our MCA Criteria:

- As low as 2k micro funding
- 6 month Min.time in business
- B, C, D paper
- Offers not based on credit score - low credit ok
- Response time (realistically) as low as 60 minutes
- 1st - 5th position - Up to 38% withhold of net deposits
- As low as 1.32 buy rates
- Terms up to 140 days (weekly's upon approval)
- Max Upsell to 15 points
- Early Payoff Discounts
- 15k a month average revenue
- Minimum of 5 deposits per month
- Minimal stips for contract (VC & ID)
- Docusign Contracts

- We also offer asset/inventory/accounts receivable backed term loans/lines of credit. Not MCA based. Bankable rates.

Michael Ross
Lendbug LLC
New York, NY
Mross@lendbug.com
646-360-0411