Single Family Residence
The acquisition price was $340,000 and the buyer will invest 50k to resell for 490k. This property is structurally sound, but it needs a complete gut and rehab. This was a seamless funding aided by the borrowers’ gold status. Gold status provides the borrower a line of credit which allows for 100% of the purchase and future rehab costs. This is the 8th loan funded with this particular borrower.