Monthly Archives: March 2016

2,880 SQ FT – Multi-Unit Cash Out Refinance

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Property Location: Oxford, ME

Property After-Repair Value: $149,000

Loan Amount: $53,000

Term: 12 Months

Interest Rate: 12%

Closed In: 3 Weeks

Borrower needed funds to complete rehab on the property, property was free and clear, she plans to rent it out once completed.

4,083 Combined SQ FT – SFR Purchase

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Property Location(s): Charleston, WV

Property Combined Value: $239,000

Loan Amount: $48,000

Term: 24 Months

Interest Rate: 12%

Closed In: 2 Weeks

Repeat borrower needed funds to purchase a single family house to fix and flip. Pledged existing property as collateral.

3,492 SQ FT – SFR Purchase

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Property Location: Jackson, MI

Property Value: $195,000

Loan Amount: $110,000

Interest Rate: 12%

Term: 12 Months

Closed In: 3 Weeks

Repeat borrower brought cash to settle the HUD on this deal, plans to fix and flip the property and get it on the market this summer.

800 SQ FT – 2 Single Family Residences

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Additonal Collateral

Location: Shelby, MI

Property’s Combined Value: $590,000

Loan Amount: $195,000

Interest Rate: 12%

Term: 18 Months

Closed In: 3 Weeks

Repeat borrower needed funds for debt consolidation, pledged 2 free and clear rental properties as collateral.