Repeat borrower looking to refinance debt on 6 properties and put a cash-out to fund other investments. Collateral generates a combined total of $19,200 per month in rents. Properties appraised for a combined $2,276k As-Is. Sponsor on the loan has good credit of 730 with bank statements upwards of $152k in assets/liquidity. Total loan amount …
Repeat borrower with over 10 flips is looking to take on property as a delayed purchase. Subject was acquired for $140K with intention of spending just over $15K on rehab, later refinancing it into long term. Subject is appraised for $163K As-Is and ARV of $180K with ROI of 12.73%. Total loan amount is 75% …
New client looking to refinance the subject into the LTR program. The client has owned the property since October 2020 with an outstanding mortgage balance under $129K. The property is currently leased equal to the market rent. RCN was able to provide a loan amount that is 80% of the As-Is Value.
Repeat borrower taking on another fix & flip project. The property was acquired for $159,900 with the intention of spending $23,370 on rehab before listing for resale. Borrower has great credit of 765. RCN was able to provide a loan at 81% of the As-Is Value.
Repeat investor looking to purchase this property as a long-term rental. Property was recently remodeled and has a market rent of $1400/ month, although property is vacant therefore there is no actual rent. Borrower has liquidity over $305,000 and good credit score of 753. Deal has 1.1000 DSCR.
New client refinancing debt on investment property. With ownership of property since October 2020, there is an outstanding balance of $98K. RCN was able to provide a loan amount that is 75% of the As-Is Value. Borrower has excellent credit of 770.
This repeat borrower is an experienced investor adding this duplex for $320k to their existing rental portfolio. This newly constructed duplex is appraised for $325 As-Is. With the borrower already having 1 of the 2 units pre-leased for $1,400 per month and an additional $1,400 per month is estimated on the vacant unit. Sponsor has …
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An experience investor came to RCN looking to utilize the Long-Term Rental Program that is offered for a subject property in Florissant, Missouri. They were looking to purchase the subject property with an exit strategy of holding it as a long-term rental. The subject has been appraised for $105k with an LTV of 80%.
Highly experienced investors looking to purchase a subject property in Aston, Pennsylvania came to RCN Capital looking to utilize the 12M Fix & Flip Program. The subject has been appraised for $185K As-Is with an ARV of $280K. The exit strategy for this project is to sell upon completion of renovations.
An experienced (10+) borrower and investor looking to use the Fix & Flip Program that RCN Capital offers for a subject property in Raleigh, North Carolina. They are seeking to purchase and rehab the subject property. The subject is being purchased for $149K with an appraised value of $170K. Following the rehab of $30K, the …
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RCN Capital, LLC is licensed as a California Finance Lender under Department of Business Oversight license number 60DBO-46258. Arizona Mortgage Banker License BK-0932325. Oregon Mortgage Lending License: ML-5571. NMLS Company ID: 1045656
