Hard Money Fix and Flip Loan in Newark, DE
Address: Newark, DE
Borrower Profile: Experienced Investor
Work Description: Fix and Flip - Single Family
Purchase Price: $132,000
Renovation Budget: $30,650
Loan Amount: $136,000
Cash Available for Purchase: $106,000
Cash Available for Renovation: $30,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $210,000
Situation:
Although this investor lives in California, her Delaware contacts keep her updated when great investment opportunities like this $132k ranch come on the market. With the help of a project manager, she plans to install gas heating, remove the fireplace, upgrade the HVAC and electric, add a full bath, gut the kitchen and bath, and add granite finishes and luxury vinyl tile floorings – all within 10 weeks. As a licensed contractor herself, this investor knows her stuff; we look forward to watching this repeat borrower pull off yet another professional, efficient Delaware flip and bring this outdated ranch up to speed with its neighbors.
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