10% annual return on investment short term 48 month investment collateral provided

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I am Jesse J Fields is the owner of Fields Contracting LLC, Dayton,Ohio, which has been in business for about 6 1/2 years. Monthly business income is currently $11-$20k. Of the over 90 acres of lake view property owned by me in Byrdstown, TN, at Dale Hollow Lake, 44 acres make up the Obey River Shores subdivision. I began developing this property in 2022. The subdivision consists of 19 lots that include electric, water, and fiber optics underground individually. All of the infrastructure has been completed, including the survey and land subdivision for the lots (see attached lot layout drawing).  I have obtained  septic approval on all lots. The asking price on the MLS for all 19 lots in the subdivision is $1.72 million. I propose putting up 6 -12 lots as collateral for $700k needed to pay back investors and begin development/construction of luxury Barndominiums. The loan would be repaid with interest in 48 months. The first payment in the amount of $300k would be made at 24 months. Remaining balance, with interest, would be paid in two more payments - one at 36 months and one at 48 months. I am willing to pay up to 10% annual interest on the principal - $140k interest on the first 24 months with the first payment being $300k. $540k principal would then remain of the original loan. $54k in interest would be paid at 36 months with payment of $200k of the remaining principal. That would leave $286k principal with the final payment of $314,600 (remaining principal and interest) at 48 months. 


The loan would allow me to move forward with my development plan of building luxury Barndominiums on the lake view lots to sell in the high demand market in the Byrdstown/Dale Hollow Lake area of Tennessee. $376k of the loan would be used to pay back Phase 1 investors.  It was anticipated that this investment would be paid back from the sale of the lake view lots. The estimated timeline for infrastructure and survey ran over, and the Phase 1 repayment deadline ofApril 24, 2024 is fast approaching. Comps to the residences I plan to build in the area are selling for 500-650k and the first build would be completed within 12 months of financing. This allows12 months to sell the first residence, pay the first payment, and roll the rest into the second build. This would also allow time to market the remaining lots not used for collateral and replenish capital needed for future builds and to repay lender. Additionally, I plan to start to put in infrastructure needed to continue to expand the remaining 50 acres of this lake front community to satisfy demand in a rapidly growing market in the area.

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Obey River Shores project by FIELDS CONTRACTING & CONSTRUCTION LLC is no longer seeking funding.