Property Listing

Fix/Flip LOC Draw in Carlstadt, NJ

Transaction Overview

We faced heavy challenges funding this deal with no comparable sales to support the land value and after repair value.  We did not give up fighting for our client.   We successfully disputed a low ball appraisal and were able to find hidden sales not listed on MLS to get this deal done for one of our best clients.   We funded 75% of the raw land purchase and 95% of the construction costs @ 75% of the after repair value.  Our total loan amount was $527,500.  No other lender in the market can provide this leverage on ground up construction.

Property Details
Loan Amount $527,500Interest Rate 8.49%Loan to Cost 95%
% of ARV Financed 75%Investment Strategy Build/SellProperty Type Single Family
% of Land Cost Financed 75%% of Construction Financed 95%Loan Product Fix/Flip Line of Credit

Leave a Reply

Your email address will not be published. Required fields are marked *

Sell Your Home Fast!

Enter your name, email and phone below and we will send you our FREE report on how to sell your home fast!

We respect your privacy