I have a $8 Million design and build contract. The contract is recorded against property. Need $300,000 to start construction. I have invested over $300,000 to date. The contract will pay back the $300,000 plus 30% interest in 6 months. Security is the contract assignment to investors which is recorded against property and is the first lien position on the land.
I will put in my first draw in for payment after I get the final permit from flood control in about 4 months.
The project is a 92000 sqft office warehouse in 12 individually buildings ranging from 5000 to 12000.
The owner has already pre sold 3 buildings and in Houston market the project will be sold before I complete it.
I will be attaching my contract and the appraisal for everyone’s review.
I will also personally guarantee the investment, my credit is around 750.
Ready to Ask For Funding for your company?
Post a Funding Request