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RECapital

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Posts: 107
Reply with quote  #1 
I"m currently grading a decent size multifamily project on 2.5 ac lot in East San Diego, and looking for a recommendation for a private lender/investor to go 2nd behind the construction loan. Need it for cash flow while working on 4 projects at the same time. 

Duration - 4 - 6 months
$200,000 to 250,000 loan amount
CLTV - 65%

Appreciate the recommendation. 

Cheers

jasonyoung

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Reply with quote  #2 
You can get a 2nd if you have free and clear collateral and verified income.
RECapital

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Posts: 107
Reply with quote  #3 
"Free and Clear" collateral means there is no 1st, which means you don't need a 2nd if there is no 1st. But thanks for the 2 cents ;-)



jasonyoung

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Reply with quote  #4 
No one will loan and be in 2nd position. You need to have collateral to get a 2nd position loan.
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