Sedro-Woolley, WA

$89,000

Single Family Residence

Purchase

07/03/2019
Transaction by
ARCH Bridge Loans, LLC
ARCH Bridge Loans funded a hard money loan for the purchase of a fixer upper house in Sedro-Woolley, a small rural city in Skagit County, Washington, approximately 60 miles north of Seattle. The borrower is an experienced flipper who found this opportunity and set a goal for us to fund his project in 5 business days. ARCH was able to meet that goal and provided the borrower with 100% of his purchase cost within one week. The renovation budget is $45,000 and the after-repair value is estimated at $215,000. The loan term is 6 months, but the structure of the loan allows the borrower the flexibility to prepay with no penalty if the project is completed ahead of time or extend the loan for a small fee should he need it.