Loan Amount: $1,402,000
Property Type: Multi-Unit Residential
Loan Type: Fix and Flip
Loan Term: 12-Months
New investor with RCN who has invested in over 70 properties was looking for the funds to renovate this 6-unit apartment building. RCN Capital was able to provide a loan at 66% of the After-Repair Value and 100% of the renovation costs. Once the project is complete the investor is anticipating a 25% Return-On-Investment.