Repeat borrower and experienced investor with 3+ verified real estate investment properties completed was looking for the funds to purchase and renovate this 4-unit complex. RCN Capital was able to provide a loan at 75% of the After-Repair Value and the investor is planning on spending $97k on renovations. Once the project is complete the …
Fix & Lease
Experienced investors acquiring subject property to complete renovations and then refinance to hold as a rental unit. The property consists of 13 one bedroom apartments, 5 garages and 6 covered parking spaces. RCN Capital was able to provide a loan at 81% of the After Repair Value. The borrower is planning on spending about $118k on renovations before refinancing out and earning a 22% return on investment.
This is a fix and lease of a six unit property in Massachusetts. The borrower has excellent credit and strong experience with fix and lease projects. Once renovations are completed, the borrower plans to refinance the property and hold as a rental unit. The borrower plans to spend $85k on renovations and is anticipating a 23% return on investment.
This team of new investors with RCN received a loan for the renovation costs of this single family home. The borrowers plan to spend about $79k on renovation before listing for resale, or holding as a rental unit. The borrowers each have great FICO scores so refinancing will not be an issue. RCN Capital was able to provide a loan at 70% LTV, and once the repairs are complete the borrowers are looking at a 124% return on investment.
Experienced borrower who has an extensive rehabbed rental property portfolio. The borrower plans to spend $54k on renovations before refinancing the property to hold as a rental unit. RCN Capital was able to provide a loan at 72% LTV. Once the work is compete the borrower is anticipating a 25% return on investment.
Experienced borrowers and investors looking to acquire a loan for the purchase of this Triplex to hold as a rental unit. RCN Capital was able to provide a loan at 80% LTV and the investor is planning on spending $15k on renovations with out of pocket cash. Once the project is complete the investors are going to refinance the property and hold as rental units.
Experienced investor who owns multiple properties in the area and successfully renovated them. This is a cash-out refinance to replenish initial investment and cover rehab costs for the investor. The borrower has good credit and income and great experience renovating properties. RCN Capital was able to provide a loan at 63% of the After-Repair-Value. Once the work is compete the borrower is anticipating a 33% return on investment.
The borrower is an experienced investor who holds two other rental properties in the area. This property is also currently held as a rental unit as well. The borrower is looking to take cash out of this property to put towards the purchase of another investment property. The borrower has good income, excellent experience and average credit. The borrower also plans to refinance through a stated program. The term for this loan is 12 months.