Building has gone up for sale directly next to my one plaza and motel. Owners have a cash buyer already interested but out of courtesy they are offering it to me for the price they have on the table. This would give me 600’ ft of frontage and 6acres directly across the street from BK and right next door to timmy hos/wendys. Been talk of a golden corral/cracker barrel wanting this site for a while but no go as of yet. Long story short I need about $125K cash for the property.
Terms can be discussed but will pay 10%+ on interest and can make a payment of $5k a mo.if need be. I’ve put close to $200k in the motel and plaza since Aug. 09 and can back it up with receipts. Heck, just spent $7k on doors last week alone. just bad timing on them listing the property.
Can back it with other properties that are paid off for collateral if need be as well to set investor’s mind at ease that I’m not going to pay back the money. Plus I’m putting cash down as well.
Easy money and better then the 2-3-4% the banks are paying
Derek 716 628 3448
If you have all this collateral why not get a loan from a traditional lender like, oh you know, a bank? Rates will probably never be lower than they are right now.
EDIT: 4:55 
http://www.familyguydirect.com/watch.php?episode=310
depending on security and how you would back the investment i could do a full or partial loan, but would like a 15% Annualized ROI to make this appealing. If you have a promissary note or contract drawn up, let me see it. josh@markdown-madness.com
No contracts yet as I just received the info from the agent last night. Contract or note would just be anything drawn up in a few mins by any lawyer. My first plaza (650k) and the motel and 2nd plaza(750k) were/are owner holds and it’s just a regular RE contract with a private financing rider on the last page or two.
Jay, no credit here at all. I had to sacrifice it last yr to get the motel. Also they are dealing with a guy with cash in hand and don’t really want to take a chance on a bank right now. Guy I bought the motel from bought a house cash last yr $222k, put $150k out of pocket into it to rehab it, tried to take a $200K HE loan on it with an 815 credit score and it still took him almost 9 wks!!!