Clean Slate Properties LLC (CSP) loaned capital to Viva Property Investments LLC, a company owned by a fellow FortuneBuilders student, for the rehabilitation of a single-family residence in SW Grand Rapids, MI. The promissory note was secured by a first position mortgage. Terms of the note were: rnLoan Amount: $25,000rnOrigination Date: 1/18/2019rnInterest Rate: 10% annualizedrnPoints: NonernLoan End Date: 04/25/2019rn
How did the FortuneBuilders team and resources help you to accomplish this deal?
This deal was between two FortuneBuilders students, so the FortuneBuilders network was critical! This was our first money deal between our two companies. We’ve now completed 5 deals and are closing on our 6th private money deal next week!