- Fix & Flip
- Fix & Lease
- Recent Loans
The borrower was looking to purchase the single family house to utilize as a rental property. Since the borrower had experience with owning and operating other rental properties, RCN Capital was able to provide a loan for 69% of the After-Repair-Value of the property. The borrower plans to refinance traditionally once this project is complete.
The investor was looking to purchase the single-family home with the intention quickly flipping it. The property needed some minor renovations, and could be cleaned up and quickly listed. RCN Capital was able to provide a loan based on the After-Repair-Value of the property giving the investor financing for the purchase and rehab.
The borrowers purchased this 3 bedroom, 1 bathroom home with the intent to fix and flip the property. RCN Capital was able to help finance the acquisition and renovation of the property. With the additional funds, the borrowers had the ability to fully renovate the kitchen, bathroom and basement, as well as refinish the floors and apply fresh coats of paint throughout the house. The project took approximately six months to complete, after which the borrowers listed the home for resale.
RCN Capital recently financed the purchase of this three-story brownstone in Washington Heights. The property was a short sale and therefore conventional financing was not an option. The borrower was able to leverage additional equity in another property to cross-collateralize and obtain funding for the renovation as well. The photos above show the property mid-renovation.