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A third-party originator worked with RCN Capital to secure a 12-month purchase and rehabilitation loan for a fix-and-flip project in Dearborn, MI. The property, appraised at $145,000 as-is, has an after-repair value (ARV) projected to be $194,000, offering a solid ROI of 15.92%.
The sponsor on this loan has strong credit and sufficient liquidity to meet the reserve requirements, making it a reliable opportunity for wholesale partners. The loan is structured at an 85.57% loan-to-value (LTV) and 87.93% loan-to-cost (LTC), providing competitive financing terms for your clients’ projects.