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Raising Private Money Letter Template
Raising Private Money Letter Template
Here’s a sample letter you can use to find private money.
Just personalize this to your business and send via email or snail mail.
<YOUR COMPANY NAME> is currently seeking private money
to purchase, renovate, and resell single family houses
in Texas (Houston, San Antonio, and Dallas metro areas).
We purchase distressed SFH, usually pre-foreclosures.
Example:
* Take over existing mortgage pay X dollars to seller,
* X dollars to mortgage company to bring current
and stop foreclosure sale and
* X dollars for renovations, new paint, new carpet, kitchen, brand new inside and out.
Time frame from purchase, renovation, to Sale is
approximately 90 days.
Had 3 this year which took 5 months start to finish
due to major renovations, but had 3 others that sold
wholesale in 4 days.
We are seeking private money at 8% for 5 year term
in 1st lien position, loan to value approximately
50% of ARV, never to exceed 70% ARV.
Our company could pay higher interest rate for
secured 2nd lien with service company collecting
the payment and distributing and finally would
consider a joint venture or private money
partnership with the right person.
Your company Name
210-669-xxxx
Email@email.com