This private investor only had $10,000 to invest and that was just fine. That was the amount that was needed to finish the renovations on this 5/3 Brick House. The private lender was secured with less than 70% loan to value.
Loan $10,000 Term 12 months Interest 12% ($1,200) LTV 57%
This house was totally reconstructed from the ground up; new roof, electrical, central heat and air, sheetrock, bathroom, kitchen, carpet, tile and paint. The private loan was used to pay for renovation cost. Lender was secured with a mortgage against the house at less than 70% Loan to Value.
Loan $20,000 Term 14 months Interest 12% ($2,880) LTV 51%
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