Transaction Details

Fix Flip Draw - Full Reno, NJ


Fix Flip Draw - Full Reno | 2529 Track Circle, Scotch Plains, NJ 07076
Recently Funded

R. Iaione Companies Inc


Property Type: Single Family

Development Phase:

Full Renovation

Rate
9.5%
Loan to cost
65.92%
Loan to ARV
61.18%
Total Loan Amount
$513,869.00
Initial loan amount
$248,869.00
Rehab/Const Loan amount
$265,000.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Streamline
Amortization
Interest Only
Investment Summary
Renovation of the existing cape cod home currently located at 2529 tack circle, Scotch Plains, NJ 07076. The foundation & first floor exterior walls will remain will remain intact. The roof structure will be demolished to add a 2nd story to the home, converting same into a 4 bdrm colonial, conducive with the surrounding neighborhood. The current dwelling is comprised of 1782sq.ft. of living area and the new structure, once completed will total 2382sq.ft. Thereby adding 600sq.ft. additional living area to the existing dwelling.
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