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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
10/14/2022
Property Type
Property City
Marcola
Property State
OR
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Renovation Budget
$180,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$600,000
Loan-to-After-Repair Value
33%
Renovation Project Scope
Heavy Rehab
Property Neighborhood
Marcola
Location Type
Rural
Property Condition
Fair
Occupancy at Closing
Vacant
Number of Units
1
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Deal Summary
Blue-inc Capital, a direct lender based in Oregon, funded a $200,000 fix and flip loan for a single-family residence in Marcola, OR. The renovation budget was $180,000 and Blue-inc Capital funded 100% of it. The estimated ARV was $600,000 so the loan-to-after-repair value that we funded was 33%. The Borrower purchased the subject property with cash, and Blue-inc Capital was able to fund the rehab/renovation costs of the project with a projected sale of early 2023. The subject property was in fair condition and vacant at closing. The Borrower had good credit. They plan to sell the home upon completion of the heavy rehab. The loan term was set at 12 months. This fix and flip loan was funded in October 2022.
Funded By
Blue-inc. Capital
Oregon's private lending solution for over 30 years