We recently funded this awesome deal for an amazing and bright client. This is almost a complete tear down leaving only one existing wall. A new foundation will be dug and poured. Replacing the old house will be a brand new Colonial approximately 3116 sq. ft. This little gem is surrounded by colonials with prices 3 times what our client paid for the existing home. Despite many set backs and some close calls, we never gave up; always working in our with our clients best interests at heart. Due diligence and hard work does pay off. We funded 90% of the purchase price and 95% of the construction at 75% ARV. ...
| Purchase Price |
$400,000 |
Loan Amount |
$687,250 |
% of Purchase Financed |
90% |
| % of Construction Financed |
95% |
Investment Objective |
Fix/Flip to Retail |
Loan Product |
Fix/Flip Line of Credit |
| % of After Repair Value Financed |
75% |
Interest Rate |
7.99% |
Property Type |
Single Family |
