Looking for Fix and Flip Financing
Hi BP,
Looking for Fix and Flip financing. I have access to funds for down payment on two following properties, and can provide more information about them as well.
I would love to get connected with lenders and financing experts about different options.
Thanks in advance!
Property 1:
Location: Richmond, VA (Northside, 5 minutes from hot new Scott's Addition area)
Square Footage: 1816 sq ft, 4br/2ba
Plan: Fix and Flip - looking at comps, plan is to convert to 3br/2.5ba with master suite
The property has a new roof and new windows and the demo/rehab prep has already been done. Will need to do flooring, some drywall, bathrooms (need vanities, lighting, etc) and kitchen will need to be done.
Hoping to be able to purchase house for less.
List price: $130,000
ARV: $300,00
Conservative rehab estimate: $100,000
Property 2:
Location: Richmond, VA (Northside, 5 minutes from hot new Scott's Addition area)
Square Footage: 2400 sq ft, 4br/3ba
Plan: Fix and Flip
This property is a foreclosure with great Victorian charm. Large amount of square footage and wonderful details. Roof seems to be in good condition. For this level of rehab I'd like to install new, efficient windows, redo kitchen, and all the bathrooms. Needs paint and trim work throughout.
List price: $93,000
ARV: $300,000
Conservative rehab estimate: $125,000