Transaction Details

Fix/Flip LOC Draw, NJ


Fix/Flip LOC Draw | 60 Orchard St, Garfield, NJ 07026
Recently Funded

60 Orchard St LLC


Property Type: Single Family

Development Phase:

Full Renovation

Rate
7.99%
Loan to cost
90%
Loan to ARV
65.62%
Total Loan Amount
$213,250.00
Initial loan amount
$180,000.00
Rehab/Const Loan amount
$35,000.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Full
Amortization
Fully Amortized
Investment Summary
Home needs a new electrical panel and the power to the home needs to be upgraded to 200 amp service . As well as all outlets need to be inspected to verify proper grounding changing all non functioning outlets to meet current codes. The heating system needs to be inspected and serviced to address any issues. there are various plumbing leaks and clogs that need to be inspected and repaired which will include repairing any walls needed to be opened to gain access to the issues. There is a dead tree in the rear that need to be cut down and removed for safety of the home and the debris in the rear needs to be cleaned and removed.
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