Investors Ready To Pre-qualify For Cash !
This property was funded a $153,200 fix & flip loan to a seasoned investor in Florissant, Missouri, a suburb of St. Louis.
The property was appraised at an As-Is-Value of $173,000 but the borrower was under contract to purchase the subject property at a discounted price of $130,000.
Our provider funded 69% of the purchase price and 100% of the renovation in 1st lien position.
The brrower contributed 31% cash for the purchase, and plans to incorporate $23,200 in rehab to bring the property to an after-repair value of $222,000.
They are a repeat client who has completed 75+ projects in the past 3 years. The interest rate was 9.99%. This investor plans to sell the property within the 12-month loan term. This SFR fix and flip loan was funded in October 2022.
If you have a scenario similar to this, we are always here to help.