Baltimore, MD

$120,000

Single Family Residence

07/13/2021
Transaction by
Trius Lending Partners
$120 Hard money loan for the purchase and rehab of a single family home in Baltimore. The acquisition price was a little under $50,000. The Borrower put a small amount of cash toward the purchase, and Adler funded the remaining 80%. The house is in terrible condition and will require an extensive renovation. The property is structurally sound, but it needs to be completely gutted. Part of the remodel will include a new basement which will add more value. The estimated ARV (after-repair value) is $205,000 so the LTV (loan-to-value) for our hard money loan is 75%. It appeared that one in every 4 homes on the same street had been recently remodeled. This Borrower has completed dozens of projects funded by Trius Lending, and we expect to do more in the near future.