Monthly Archives: November 2015

855 SQ FT – SFR Fix-and-Flip Loan

Front Pic

Property Location: Mechanic Falls, ME

Property Value After Completion: $78,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 12 Months

Closed In: 2 Weeks

Borrower plans to fix-and-flip to sell the property after finishing necessary repairs.

1,170 SQ FT Cash-Out Refinance Loan

Front Pic

Property Location: Little Rock, AR

Property Value: $65,000

Loan Amount: $25,000

Interest Rate: 12%

Term: 24 Months

Closed In: 3 Weeks

Borrower used cash to purchase the property, then came to us for funds to do minor rehab.

1,792 SQ FT – Purchase Single Family Rental Building

Aquisition

Lonsdale

Purchase

Property Location(s): Red Wing, MN & Mishawaka, IN

Property Combined Value: $159,000

Loan Amount: $35,000

Interest Rate: 13%

Term: 24 Months

Closed In: 3 Weeks

Repeat borrower pledged two free and clear rental properties to complete the acquisition of this third building.

 

3,000 SQ FT – Construction Loan

Rehab

Property Location: Raleigh, NC

After Completed Value: $365,000

Loan Amount: $170,000

Interest Rate: 12%

Term: 12 Months

Closed In: 3 Weeks

Repeat Borrower needed funds to complete the last stage of work on this property before it’s complete and ready to be put on the market for sale.