CLOSING: Kaye Street
Just closed a 294 day project.
http://www.entrust.partners/kaye-street/
GOODS
- Partners received 17%ROI on 294 days = 19% APR
- Rising market value meant that during the 294 days the ARV went up by $10,000.
BADS
- Rehab was 76 days, but we went through 3 Buyers who could not close because of financing problems.
- The final close was delayed 3 weeks because the appraiser claimed that the second bathroom was not permitted. That killed the financing... until we proved that it WAS permitted after all.
Comments (1)
Hi Rick, thanks for the post. Way to keep at it through thick and thin. Sometimes things don't always go the way we'd ideally like them to go but we push through anyway! I'd love to hear what lessons you learned from this experience and what you might consider doing differently (or the same) on future deals.
Kent Clothier, about 10 years ago