Borrower is an experienced investor looking to take on another fix and flip project. Under contract to acquire the subject property located in Garfield Heights, OH for $68k with intentions of spending just $12,700 on rehab before listing it for resale. Subject is an SFR and appraised for $89k As-Is and ARV of $145k evidences a solid ROI for borrower of 75.25%. Sponsor is a foreign national resident and bank statements reflect sufficient funds to cover the Liquidity Requirements. Initial advance 80% LTC & 61.1% of LTV. Total loan amount 46.3% of ARV.
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