Transaction Details

Fix/Flip LOC Draw, NJ


Fix/Flip LOC Draw | 690 West Front St, Red Bank, NJ 07701
Recently Funded

Golden Rule Property Solutions, LLC


Property Type: Single Family

Development Phase:

Full Renovation

Rate
9.99%
Loan to cost
80%
Loan to ARV
64.51%
Total Loan Amount
$406,411.00
Initial loan amount
$272,000.00
Rehab/Const Loan amount
$158,130.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Full
Amortization
Interest Only
Investment Summary
This 4 bed/ 2.5 bath Colonlal resides on 1.3 acres and was built Jn 1971. While structurally sound, the home Is need of complete updating. Beginning wlht the exterior of the house, we will Install all new siding, new windows, new roof, gutters, fascia and sofflt. We will also be adding a porch to the front of the house, paver patio Jn the back and full landscaping of the property. We will be replacing the septfc system of the home and have received an estimate for $23K to do this work. There Js a pool an the property, which we Intend to fill in as ft in disrepair. Lasty, there is an o/I tank on the property that Wiii be removed, as we Wiii be converting the heat to natural gas, Sall has been tested and no contamination was found. We have purchased a guarantee/Insurance In the off chance It should have leaked. In the Interior of the home, we wlll be fnstall!ng new kitchen, new master bath, new full and half bath. We will be replaclng all lnterlor and exterior doors and lrght fixtures, In addition, the hard woor floors on the main level wJll need to be replaced, whlle the floors upstairs wfll be refinished. New 1-lVAC units and updating electrical and new electrical fixtures, We will be finishing the basement and painting the entire Interior of the house. AU of the aformentloned work wlll be done by licensed sub contractors.
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