)
Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
07/31/2023
Property Type
Property City
Waldorf
Property State
MD
Loan Term (months)
6
Lien Type
Senior
Payment Type
Interest Only
Purchase Price
$250,000
Loan-to-Purchase Price
77.50%
Borrower's Contribution to Purchase
22.50%
Source of Borrower's Contribution
Cash
Renovation Budget
$87,500
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$450,000
Loan-to-After-Repair Value
62.50%
Renovation Project Scope
Heavy Rehab
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Vacant
Building Square Footage
2,024
Lot Square Footage
7,368
Exit Strategy
Sale
Deal Summary
Real Property Investment Partners, a direct private lender, funded a $281,250 senior lien position fix and flip loan for a single-family home in Waldorf, Maryland. We funded 100% of the $87,500 purchase price and 77.50% of the $250,000 purchase price, while the Borrower contributed 22.50% cash to the purchase at closing. The after-repair value was $450,000 so our loan-to-after-repair value was 62.50%. The subject property was approximately 2,024 square feet set in a 7,368-square-foot 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