- Fix & Flip
- Fix & Lease
- Long-Term Rental
- Recent Loans
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RCN Capital recently worked with new borrowers who were looking to take on their first fix and flip project with light rehab. During the process, the subject property had been under contract for $155k with the plan to spend about $24k on the rehab. The As-Is Value rang in at $107k with approval by the in-house appraiser. ROI: 29%
List Price $6,839,1000 Portfolio Type 100188 | SFR | 140 Homes John Morttram, CCIM Managing Director SVN | JJMottram 1712 Platt Place Montgomery, AL 36117 email@example.com License #000051657-0
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%