Hard Money Rehab Loan for SFR in Coquille, Oregon

Funded by Blue-inc. Capital

80,000

Deal Details

Private Loan Type

Residential Rehab

Approx. Funding Date

10/13/2022

Property Type
Single Family Residence
Property City

Coquille

Property State

OR

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Renovation Budget

$80,000

Renovation Budget Funded

100%

After-Repair Value

$260,000

Loan-to-After-Repair Value

31%

Renovation Project Scope

Heavy Rehab

Property Neighborhood

Coquille

Location Type

Urban

Property Condition

Poor

Occupancy at Closing

Vacant

Building Square Footage

1,000

Borrower's Plan

Build and Sell

Exit Strategy

Sale

Borrower Credit Rating

Poor

Deal Highlights

Blue-inc Capital was able to wrap all rehab & closing costs into the loan for 100% financing.

Deal Summary

Blue-inc Capital, a direct lender based in Oregon, funded an $80,000 hard money loan for the renovation of a single-family residence in Coquille, a small rural town in Southern Oregon, near the coast. The Borrower had already owned the property, so we didn’t fund the purchase. The renovation budget was $80,000. Blue-inc Capital was able to wrap all of the construction and closing costs into the loan for 100% financing of this project. The estimated ARV was $260,000 so the loan-to-after-repair value that Blue-inc Capital funded was 31%, in 1st lien position. The approximately 1,000-square-foot subject property was in poor condition and vacant at closing. The Borrower plans to sell the home upon completion of the heavy rehab. The loan term was set at 12 months. This hard money loan was funded in October 2022.

Funded By

Blue-inc. Capital

Oregon's private lending solution for over 30 years

Dealmakers

Loan Originator

Jake Colter

NMLS# 2365400

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