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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
08/25/2023
Property Type
2-4 Units Residential
Property City
Cleveland Heights
Property State
OH
Loan Term (months)
6
Lien Type
Senior
Payment Type
Interest Only
Purchase Price
$96,000
Loan-to-Purchase Price
73.95%
Borrower's Contribution to Purchase
26.05%
Source of Borrower's Contribution
Cash
Renovation Budget
$70,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$200,000
Loan-to-After-Repair Value
70.50%
Renovation Project Scope
Heavy Rehab
Property Neighborhood
Cleveland Heights
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Vacant
Exit Strategy
Sale
Funded By
Real Property Investment Partners
NO APPRAISAL REQUIRED. Providing institutional-grade lending with a local presence.
Dealmakers
Steve Winter
Managing Director of the Mid-West