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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
07/11/2023
Property Type
Property City
Randallstown
Property State
MD
Loan Term (months)
6
Lien Type
Senior
Payment Type
Interest Only
Purchase Price
$250,000
Loan-to-Purchase Price
88%
Borrower's Contribution to Purchase
12%
Source of Borrower's Contribution
Cash
Renovation Budget
$50,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$380,000
Loan-to-After-Repair Value
71%
Renovation Project Scope
Heavy Rehab
Location Type
Suburban
Property Condition
Fair
Occupancy at Closing
Vacant
Building Square Footage
1,943
Lot Acreage
0.39
Exit Strategy
Sale
Deal Summary
Real Property Investment Partners, a direct private lender, funded a $270,000 senior lien position fix and flip loan for a single-family home in Randallstown, a suburb of Baltimore, Maryland. We funded 100% of the $50,000 renovation budget and 88% of the $250,000 purchase price, while the Borrower contributed 12% cash to the purchase at closing. The after-repair value was estimated at $380,000 so our loan-to-after-repair value was 71%. The subject property is approximately 1,943 square feet set in a 0.39-acre lot. The Borrower plans to sell the property upon completion of the heavy rehab. The loan term was set at 6 months. This SFR fix and flip loan was funded in July 2023.
Funded By
Real Property Investment Partners
NO APPRAISAL REQUIRED. Providing institutional-grade lending with a local presence.
Dealmakers
Tibor Wilheim
Managing Director