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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
09/20/2022
Property Type
Property City
Stockbridge
Property State
GA
Loan Term (months)
9
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$195,810
Loan-to-Purchase Price
86.50%
Borrower's Contribution to Purchase
13.50%
Source of Borrower's Contribution
Cash
Renovation Budget
$70,100
Renovation Budget Funded
100%
Borrower's Contribution to Budget
10%
After-Repair Value
$323,000
Loan-to-After-Repair Value
74.1%
Renovation Project Scope
Light Rehab
Location Type
Suburban
Property Condition
Fair
Occupancy at Closing
Vacant
Number of Units
1
Building Square Footage
2,109
Lot Acreage
0.13
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Deal Summary
SkyBeam Capital, a direct private real estate lender, funded a $239,300 1st lien position fix and flip loan for a single-family home in Stockbridge, Georgia. The purchase price was $195,810 and the renovation budget was $70,100. The after-repair value was estimated at $323,000 so our loan-to-after-repair value was 74%. The Borrower is a local experienced real estate investor who started working with SkyBeam in 2020. The subject property is approximately 2,109 square feet set on a 0.13-acre lot. The Borrower had good credit. Upon completion of the light rehab, they sold the property above the estimated after-repair value. The loan term was set at 9 months. This SFR fix and flip loan was funded in September 2022.
Funded By
SkyBeam Capital, LLC
Fast and reliable funding for your next Georgia real estate project
Jaleceya
Skybeam is absolutely my favorite lender because if the deal makes sense its funded. Skybeam has always funded my deals on time and quickly. Because of that reliability, I have won in multiple offers situations even though I wasn't the highest bidder because I could guarantee sellers I could close in 4 days because I knew my lender would perform. Skybeam also took a chance on myself and my husband as newer investors years ago when other lenders turned us down for not having enough experience. I am forever grateful to the team at Skybeam Capital.