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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
11/01/2022
Property Type
Property City
Tigard
Property State
OR
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$180,000
Loan-to-Purchase Price
85%
Borrower's Contribution to Purchase
15%
Source of Borrower's Contribution
Cash
Renovation Budget
$20,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$335,000
Loan-to-After-Repair Value
59%
Renovation Project Scope
Cosmetic
Property Neighborhood
Tigard
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Vacant
Building Square Footage
1,290
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Average
Deal Summary
Blue-inc Capital, a private lender based in Oregon, funded a $200,000 fix and flip loan for a townhome in Tigard, Oregon, a suburb of Portland. The purchase price was $180,000 and the renovation budget was $20,000. We funded 85% of the purchase and 100% of the renovation, while the Borrower contributed 15% of the purchase price at closing. The estimated ARV was $335,000 so the loan-to-after-repair value that Blue-inc Capital funded was 59%. The approximately 1,290-square-foot subject property was vacant at closing. The investor was able to close in 7 days with minimal down payment and cosmetic renovation costs wrapped into the loan. The loan term was set at 24 months, and the Borrower plans to sell the home upon completion. This fix and flip loan was funded in November 2022.
Funded By
Blue-inc. Capital
Oregon's private lending solution for over 30 years
Dealmakers
Jake Colter
Loan Originator
NMLS ID 2365400