Loan Case Study — Michigan

$62,400 Land Loan — Michigan

A 6-acre Michigan land acquisition financed with a $62,400 private land loan from Damen Capital Fund. Closed in 7 days, no appraisal, interest-only at 16%.

$78,000

Purchase Price

$62,400

Loan Amount

16%

Interest Rate

6 Acres

Michigan

Deal Breakdown

The Acquisition

Property6 acres — Michigan
Purchase Price$78,000
Down Payment$15,600 (20%)
Loan Amount$62,400
Interest Rate16% (interest-only)
Term24 months
Closing Timeline7 days

Loan Costs

Monthly Interest Payment$832/month
Hold Period8 months
Total Interest Paid$6,656
Closing Costs$600
Exit Fee (2%)$1,248
Total Cost of Capital$8,704
Borrower resold the lakefront-adjacent parcel with seller financing 8 months after acquisition.

From Application to Closing in 7 Days

1

Lake-Adjacent Parcel Found

6 acres in Michigan at $78,000. Proximity to lake country drove buyer demand for the resale.

2

Funded in 7 Days

$62,400 loan at 16%, no appraisal. Borrower closed while the seller still had the listing active.

3

Resold with Owner Financing

Borrower sold with seller financing 8 months later and collected cash by selling the note.

Lake Country Flip

A 6-acre Michigan parcel near lake country. Seller financing made the resale easy — the resulting note was sold to Damen Capital at closing for immediate cash.

Closed in 7 days — no appraisal, no bank committee

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