)
Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
08/03/2023
Property Type
Property City
Williamsport
Property State
MD
Loan Term (months)
6
Lien Type
Senior
Payment Type
Interest Only
Purchase Price
$270,000
Loan-to-Purchase Price
85.18%
Borrower's Contribution to Purchase
14.82%
Source of Borrower's Contribution
Cash
Renovation Budget
$120,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$498,750
Loan-to-After-Repair Value
70.17%
Renovation Project Scope
Heavy Rehab
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Vacant
Building Square Footage
3,564
Lot Square Footage
5,184
Exit Strategy
Refinance
Deal Summary
Real Property Investment Partners, a direct private lender, funded a $350,000 senior lien position fix and flip loan for a single-family home in Williamsport, a small town in Northwestern Maryland. We funded 100% of the $120,000 renovation budget and 85.18% of the $270,000 purchase price, while the Borrower contributed 14.82% cash to the purchase at closing. The after-repair value was $498,750 so our loan-to-after-repair value was 70.17%. The subject property was in good condition and vacant at closing. It is approximately 3,564 square feet set in a 5,184-square-foot lot. The Borrower plans to refinance the property as an exit strategy. The loan term was set at 6 months. This SFR fix and flip loan was funded in August 2023.
Funded By
Real Property Investment Partners
NO APPRAISAL REQUIRED. Providing institutional-grade lending with a local presence.
Dealmakers
Tibor Wilheim
Managing Director