Hi All,
This is my first post and hopefully welcomed.
I'm looking to work with a lender that is open to lend with real estate as collateral. The collateral is a Single Family Residence in New Hampshire that is worth $650K with over $500K of Equity. There are several scenarios that can be explored to structure the loan (refinance is one option or others we can discuss).
If a refinance will need $300K or $150K if exploring alternate scenarios which we can discuss further.
In any scenario the loan will be protected as the amount requested is only half the value of the collateral, so a quick exit if a loan defualt should occur (sale of home at minimum of $500K would happen quickly).
Would accept (BTC, BCH, ETH and open to discuss other currencies).
This is a serious and real opportunity, so only inquire if you can actually perform. I will be more then happy to provide full details on the property and structure.
Please feel free to contact me via pm or on this post.
Thank you all for the look.
FYI: Not that this has anything to do with the contemplated transaction, but the purpose for the proceeds is to be used in a Crypto related business opportunity that development has been in the works for over a year. In a traditional transaction we would also have to convert the fiat (US Dollar) into crypto since that is what we need to do to move things along.
That is another reason we are looking for lending by Crypto.
Not exactly because selling a home adds cost and on top of that you have to pay taxes. For someone to even consider this, they would have to have the property inspected to determine the value of the property, check for damages and conditions of it, etc. All of this adds cost to the lender. Youre better off taking this to a bank than coming here.
Appreciate your input. The traditional way is not an option as there are time constraints. Basically looking for private lender(s). I'm very well aware of the cost in selling (I'm also a Licensed Broker) including tax implications, so all necessary documentation and information will be provided (Due Diligence) so the lender could feel confident of what is being represented.
Just to add to this:
The property was custom built in 2016 from the ground up at a cost of $580K excluding land. Property is basically new (bias opinion: Amazing Shape) and have third party inspections in place, title clearance and any other docs a lender would require. The home was briefly listed last year at $659K. Multiple offers were received from $590-$620K but at the time was still not clear if parting with the property was the end result wanted.
Open to discuss and provide information to parties that have interest. Would consider small syndicated group of lenders (crowdfund scenario) if that is of interest. Open to explore.
Thanks again all for looking into this thread.
