$283,500 Fix and Flip
Welcome to the family! This new client, who heard about our unparalleled service from other investors, purchased this home for $280,000. The husband in this duo is a contractor and will invest about $60,000 in renovations. Once completed it will sell for around $440,000 – with some savings because the wife is a realtor.
$1.7 million Fix and Flip
Ever hear of loan to own, where a lender is hoping the borrower defaults so they can take the property? Here’s the opposite.
Our borrower was struggling to complete a large project, so we stepped in to help. Another client took over the project, purchasing the property for $1 million. It will take him about another $950,000 to complete it and then this nearly 4,000 sq. ft. home should sell for about $3.5 million.
Our loan of $1.7 million helped one client out of a jam, and set another on the path to a big pay day. That’s the “family” difference.
$328,500 Fix and Flip
We love welcoming new clients to the “family”, especially when they are right in our own backyard. This client was referred by his lawyer because he needed to close quick – within 5 days – and he knew we would get it done.
Purchased for $365,000, it will undergo about $35,000 in renovations and will then go back on the market for around $540,000.
Our loan of $328,500 will help this seasoned investor net around $100,000!
$409,350 Fix and Flip
It’s a new year, but for this savvy investor it’s the same old story – another home run.
This single family home was purchased for $402,000 in July. It required less than $50,000 in renovations to get it into pristine condition and sold last week for $633,000. That’s a profit of about $100,000.
Not a bad way to kick off the New Year.
$227,500 Fix and Flip into Rental
What a great way to start the New Year – helping a client finish up a deal we started with him last year!
When he purchased this property for $252,000, we provided a loan of $227,500 which included acquisition funding and renovation funding. With renovations completed and the three units fully rented, this week we closed on a rate-and-term 30-year fixed rate loan.
Now he’s set to maximize the cashflow!
$227,500 Fix and Flip into Rental
We love “full cycle” deals like this one, when we can help our clients achieve their real estate goals by using a variety of the tools in our toolbox.
We helped this client purchase and renovate this property with an “acquisition/renovation” loan of $175,000 earlier this year. After a beautiful renovation of around $125,000, we refinanced it into a 30 year, no-doc cash-flow rental loan at a rate of 7.95%.
The loan of $227,500 enabled the borrowers to get all of their cash out of the property and move on to the next one.
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