Short term financing deal
From a client:
We are purchasing the hotel for $10.3M, and after 6-12 months and getting it stabilized we should see the value of around $17-20M with very good cashflow as well.
We already have the $9.3M and renovation money lined up, only just needing the $1M to get us in the door.
We go to the hearing on Oct 16th and would like to try and have the money in our Attorney’s trust account some time this week so that they can give the court a heads up that we are coming in with a new contract etc.
Please let me know if you have any questions or need more info on the property. We can either do debt or equity as we discussed or a combination of both for the $1M.
We would be looking to refinance the hotel and return the $1M + interest etc after 12 months and getting the property stabilized for an SBA loan.
Call Mike: 305.796.0935
Email: [email protected]
We are purchasing the hotel for $10.3M, and after 6-12 months and getting it stabilized we should see the value of around $17-20M with very good cashflow as well.
We already have the $9.3M and renovation money lined up, only just needing the $1M to get us in the door.
We go to the hearing on Oct 16th and would like to try and have the money in our Attorney’s trust account some time this week so that they can give the court a heads up that we are coming in with a new contract etc.
Please let me know if you have any questions or need more info on the property. We can either do debt or equity as we discussed or a combination of both for the $1M.
We would be looking to refinance the hotel and return the $1M + interest etc after 12 months and getting the property stabilized for an SBA loan.
Call Mike: 305.796.0935
Email: [email protected]