A Funded Flip in Maplewood, NJ!

Repeat and experienced borrower looking to acquire the subject property located in Maplewood, NJ for $560k with the intention of spending just over $450k on a complete renovation and expansion/addition before ultimately listing it for resale. The subject was appraised for $550k as-is, slightly below purchase price, however the ARV of $1.35m evidences a solid ROI for borrower of just over 30%. Sponsor has excellent credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Loan structured at slightly more conservative than the typical qualification model. Initial advance 83.5% LTC & 85% LTV. Total loan amount 68.1% of ARV.