Borrower is an experienced flipper with more than seven verified flips under their belt. The borrower has good credit making it so that there is a 75% LTV for the cash out refinance. The property is currently appraised for $162K and is currently leased for $1,400, which is $350 below the market rent. Once the project is complete the investor is anticipating a 35% Return-On-Investment.
Total Loan Amount: $121,500
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