- Fix & Flip
- Fix & Lease
- Long-Term Rental
- Recent Loans
Single-Family Residential – Miami, FL
Experienced borrower looking to fix and flip the subject property in Miami, Florida. RCN Capital was able to provide a 12 month loan at a 79% LTV. The investor is planning on spending $55K on renovations. The plan for this subject property is to renovate and sell it upon completion. Total Loan Amount: $238,100
Single-Family Residential -Simpsonville, SC
The new investors have a single-family property located in Simpsonville, South Carolina under deposit for purchase. This subject property is in average condition with maintenance that has been categorized as deferred in the appraisal. RCN Capital was able to provide a loan at 80% of the purchase price at a 5.73% interest rate for 30-years. Total Loan Amount: $93,000
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
Multi-Unit Residential – Hartford, CT
Borrower is an experienced real estate investor and landlord who is looking to pull cash-out of this multi-family home in Hartford, Connecticut using RCN’s 30-year long-term loan program. The investor has excellent credit in the mid-700s and tenants in each of the units. RCN was able to provide a loan at a fixed rate for a 30-year term. Total loan amount: $129,000.
Multi-Unit Residential – Kailua Kona, Hawaii
The borrower is an experienced real estate investor who was looking to purchase this 16-unit apartment building and renovate 11 of the units in Kailua Kona, Hawaii. RCN was able to provide a 12-month loan at 68% LTV and 100% of the renovation costs. The exit strategy is to refinance the property and hold as a rental complex, as most of the units already have tenants in them. Total loan amount: $1,505,000.
Single-Family Residential – Indianapolis, IN
Repeat borrowers and experienced investors were under contract to acquire the subject. RCN was able to provide a 12-month loan at 65% of the After-Repair Value and the investors are planning on spending $74k on renovations before listing the house for sale. Once the project is complete the investor is anticipating a 23% return-on-investment. Total loan amount: $179,050.