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.
Month: November 2015
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.
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.
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.