Fix & Flip Loan for Single Family Home in Harbert, Michigan

Funded by Park Place Finance


Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date


Property Type
Single Family Residence
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Renovation Budget


Renovation Budget Funded


After-Repair Value


Loan-to-After-Repair Value


Renovation Project Scope


Location Type


Borrower's Plan

Rehab and Sell

Exit Strategy


Interest Rate


Deal Highlights

Beautiful property on Lake Michigan; One block from the waterfront.
This property is only an hour outside of Chicago.

Deal Summary

Park Place Finance, a direct private real estate lender, funded a $455,000 1st lien position fix and flip loan for a single-family home in Harbert, which is located in the Southwestern part of Michigan, very close to Indiana. The property is just one block from the waterfront of Lake Michigan. We funded 75% of the purchase price and 100% of the $56,700 renovation budget. The after-repair value was estimated at $650,000, so our loan-to-after-repair value was 70%. This is the Borrower’s third house flip project. The plan is to perform a cosmetic overhaul on the property, which is expected to take around 3 months. They intend to sell the home for a healthy profit upon completion. The interest rate was 11.99% and the loan terms were our standard 12-month term loan with interest-only payments and no prepayment penalty. This SFR fix and flip loan was funded in January 2024.

Funded By

Park Place Finance

Nationwide Direct Private Lender for Residential Real Estate Investors


Jackson Shea

Account Executive