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05-01-2015, 03:44 PM #1Senior Member
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Need Direct Lender for $1.5MM LOC against $4MM prime land
Need line of credit for A paper client with no debt. Looking for fair rate, between 5-7%, no higher, with decent repayment terms. Looking to use the land as guarantee (NOT WILLING TO SIGN PG), however, willing to do a Deed in Lieu of Foreclosure without possible dispute.
The appraised value of the land for $4MM was pre-development, so that is just a conservative value, as it should come in higher, since development is complete in that area now.
Direct lenders, please PM or email: solidmerchantsolutions@yahoo.comLast edited by Fundyman; 05-02-2015 at 12:03 PM.
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