Need help with start-up capital, paid back in 9 months
Daer Sir, Maam,
Iam in a very difficult situation and need some help from someone that I can trust. My situation is one where I need an initial investmaent of right around 85k and the entire 85k will be paid back with %20 interest in 9 to 12 months. Proabably closer to 8.
My situation is this. I have a piece of property (0.87 acres) that my wife purchased in 1995 prior to us marrying. The current note has 36k and change left on it. I had the property appraised 7 months ago at 170k. So I have right around 134k in equity in the property. I have tried in the last six months every method possible to get at the equity and have been unsuccesful to this point.
The problem is that I currently live on the property with my wife and daughter in a single wide mobile unit that is about 40 years old. And if you know anything about real estate, that equates to vacant or bare land. My mother and brother tried to purchase the land from me on seperate occasions but didn't want to put any money down. With vacant land , I think I can safely say that it is "IMPOSSIBLE"! From everything that I have seen you have to put 50% down. Which with an appraisal of 170k that would be right around 85k.
I have no plans on moving from the property so my master plan is to have an investor buy the property from me, then I want to have a new house ( triple wide manufactured) put on the property, then when the new house is moved on and everyhting is ready I want to refinance at what will probably amount to right around 350k to 400k. Then at that time pay back the money that the investor used to make the down payment on the purchase of the property plus the 20% of that 85k.
I need this money to start a business that requires a start-up cost of about 75k.
I don't want to do business with just anybody which is why I came to this forum, looking for christian investors. Someone that is looking to make not a whole lot of cash but around 20k for an investment that is going to be paid back anyway. Plus you will be helping out a brother which is where I am trying to get in about 3 to 6 years.
Please help. I don't know where else to turn. Thank you for any help.
Denny George
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