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Hard Money Fix and Flip Loan in Baltimore Maryland

Address: Baltimore, MD
Work Description: Blanket Fix & Flip
Purchase Price: $145,000
Renovation Budget: $53,000
Loan Amount: $158,400
Cash Available for Purchase: $105,400
Cash Available for Renovation: $53,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $350,000
Hard money lender in MD
Maryland hard money lender

Situation:

With his $158,400 blanket loan, this first time investor will purchase and renovate two single family homes in Baltimore. He will buy one property for $105k, invest $47k for rehab, and sell for $265k in September. The house is in good shape; most of the funds will go toward updating the electric and plumbing, installing new HVAC, and expanding and upgrading the kitchen. For the second property, he’ll purchase at $49k, put in $6k of work, and hold it for rent. While it may be ambitious for a new investor to take on two projects at once, this borrower has experience assisting others on fix and flip projects that will help him run the simultaneous renovations without issue.

Blanket fix and flip hard money lender in Baltimore
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