PML needed for West Side CLE OH flip home
I offer 15% annually; 1.25% monthly interest-only. 1st mortgage secured. Loss payee on insurance policy. Looking to obtain funds in August and close in September. I have a friend who owns a title company and closes all my deals.
3 bedroom, 2 full bath, 900 sq ft ranch. Full gut because sellers were heavy smokers for years...better to get rid of the permeating smell. Purchase price is 25k and rehab is 25-30k. I plan to flip it and it's solidly in the range of 75-90k. My all-in costs are within the 70% of 75k ARV. I have my own contractor and the realtor to list and sell it upon completion. I flipped a $270,000 home in March of this year, so I have experience and am locked into secure safe numbers. And, I hold 5 rentals all obtained since Thanksgiving 2019.
I’m in my 50s and have an aggressive but smart investment plan over the next 12 months to grow reserves with flips and build high cash flow with rentals. I hope to hear from you. Warmly, Kim