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Real Property Investment Partners
NO APPRAISAL REQUIRED. Providing institutional-grade lending with a local presence.
Outstanding Service for Investment Property Bridge, Rehab, Rental, and Construction Loans
Washington DC Fix & Flip Loan Stats
According to private lending data provider, Analytics Logics, the average interest rate for fix & flip loans in Washington DC is 12.23%. The average loan amount is $502,601. These stats are the average of all the loans which were funded between April 1, 2023 and September 15, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Fix & flip loans include the purchase of the property and the renovation budget, with the loan-to-after-repair value typically being no more than 70%.
Funded Fix and Flip Loans in Washington DC
Navigator Private Capital, a private real estate lender, funded an $840,000 fix and flip loan in 1st lien position for a single-family residence in Washington DC. The purchase price was $667,156 and the renovation budget was $200,550. We funded 75% of the purchase and 95% of the renovation while the Borrower contributed 25% and 5% cash at closing, respectively. The after-repair value was estimated to be $1,120,000 so our loan-to-after-repair value was 75%. Our client meticulously updated this single-family home in a commuter-friendly Woodridge neighborhood home from top to bottom. The Borrower was refinishing the kitchen and bathrooms, installing new flooring throughout, and refreshing the homes’ curb appeal with Hardie plank siding, new landscaping, and additional parking. We expect a quick sale once the work is completed. The subject property was in fair condition and vacant at closing. The building was approximately 2,300 square feet set in a 4,000-square-foot lot. The Borrower plans to sell the property upon completion of the heavy rehab. The loan term was set at 12 months. This SFR fix and flip loan was funded in October 2022.
Fix & Flip Loan for Single-Family Residence in Washington DC
Navigator Private Capital, a nationwide private real estate lender, funded a $1,486,700 1st lien position fix and flip loan for a single-family home in the Shepherd Park neighborhood of Washington DC. We funded 90% of the $1,200,000 purchase price and 100% of the $388,000 renovation budget, while the Borrower contributed 10% cash at closing. The after-repair value was estimated at $2,050,000 so our loan-to-after-repair value was 72%. Our Clients have done it again. They found a rather tired single-family property in a charming DC neighborhood and completely reimagined it. As it stands now, 1325 Holly Street NW is a head-turner that offers a rare opportunity to own a piece of American architectural history with this completely renovated 1914 craftsman-style home in the heart of a bucolic, tree-lined neighborhood.
The home is big enough to comfortably fit a large family and then some! Boasting 7 bedrooms and 6.5 bathrooms overall, it includes elevator access to four levels spanning over 7000 square feet. The finished basement includes a rec room, professional-grade wine storage, in-law quarters with walkout access, a bedroom, two bathrooms, and a second laundry room, offering loads of rental income potential. The subject property was vacant at closing. It was approximately 4,847 square feet set in a 5,750-square-foot lot. The loan term was set at 18 months and later extended to 24 months. This SFR fix and flip loan was funded in May 2021.