Recent Loans
- All
- Fix & Flip
- Fix & Lease
- Long-Term Rental
- Recent Loans
Recent Loan – Chicago, IL
New investors that were looking to take on their first fix and flip project. They had been under contract to acquire the subject property with the exit strategy of a purchase and rehab. The initial purchase price for this property was $75K, with the ARV being brought up to $175K due to renovations. This subject property has the Return-On-Investment of 33%. LTV: 80%
Recent Loan – Decatur, GA
A new client under contract to purchase the subject property for a fix and flip. The property has been appraised for $8K above the As-Is Value and $80K in renovations had been scheduled. After all the working being done, the After Repair Value of this property is set for $280K with a Return-On-Investment of 29%. LTV: 80%
Recent Loan – Columbia, SC
An experienced borrower that was looking to take on a fix and flip project in Columbia, SC. The Return-On-Investment for this subject property is 7.82%, but debt yield passes at 14.13%. With $15K in renovation costs and an LTV of 80%, the project’s ARV is $145K.
Recent Loan – Phoenix, AZ
An experienced borrower that was looking to purchase the subject property and hold it for long-term in Phoenix, AZ. The property is a single-family residential home that the borrower recently acquired for $203K. The home is currently leased and the monthly rent is set $1,450, which is the same as the appraisers monthly market estimate. LTV: 80%
Recent Loan – Rhome, TX
The borrower was looking to do a cash out on a rental property with long-term financing. The subject property is located right out of the Dallas/Fort Worth, meaning that it is in a desirable area. The original purchase price for the home was $75K. However with renovations and an LTV of 75%, the ARV is now set at $160K.
Recent Loan – San Diego, CA
An experienced borrower and investor that was looking to refinance existing debt on the subject property. This project is single-family residential rental that they have owned for several years. The home has been appraised as is for $685K with the total loan amount at 70% LTV. As of right now, there is a tenant in place till June 2020, who is paying $3,297 per month making the rent in line with the appraiser’s estimate of market rent ($3,250).
