Monthly Archives: May 2014

1,300 SQ FT Single Family Home – Rehab Loan

Rehab loan alabama

Property Location: Birmingham, AL

Property: Value: 80,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 2 Years

The borrower purchased and started renovation out of pocket. After being worked over by another lender, we were able to offer a rehab loan to help them finish the renovation. They plan to rent this home out, so we gave them a 2 year term for proper seasoning.

1,800 SQ FT Single Family – Rehab Flip Loan

House Flip

Property Location: Stockton, MO

Property: Value: 70,000

Loan Amount: $25,000

Interest Rate: 12%

Term: 12 Months

The borrower had purchased and started the renovation out of pocket. We were able to offer a Cash out Refinance to help him finish the rehab. The property has an end buyer in place.

2,052 SQ FT 2-Unit Multi – Cash Out Refinance

chicago_refinance

Property Location: Chicago, IL

Property: Value: 185,000

Loan Amount: $70,000

Interest Rate: 12%

Term: 2 Years

Broker: 2% ($1,400)

The borrower had purchased and renovated this 2 unit out of pocket. We were able to offer a Cash-Out Refinance to help him purchase another property.

1,400 SQ FT Duplex + 2 Town Homes

missouri_hardmoney_refi

townhome_refi_loan

Property Location: Kansas City, MO

Property: Value: 170,000

Loan Amount: $55,000

Interest Rate: 12%

Term: 2 Years

The borrower had purchased and renovated the duplex and both town homes out of pocket. We were able to offer a Cash-out Refinance to help her obtain the next couple opportunities prior to selling.

7,200 SQ FT Performing Industrial

OH Hard Money

Location: Columbus, Ohio

Property type: Performing Industrial

Type of transaction: Lender purchase w/NNN lease option to tenant

Appraised Value: $499,000

Purchase price: $200,000

Lease option price: $225,000

Broker fees: $4,000.00

 

The borrower had good equity in his property,  but there were circumstances that did not make us entirely comfortable producing a traditional loan on the property.

We were able to structure a purchase with a lease option that gave the borrower cash he needed. We entered into a NNN lease (2 yr) buy back to the borrowers for 2k/month.   At the end of the two years the tenants agree to purchase the property for 225k.