Single-Family Residential - Knoxville, TN

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