Fix & Flip Loan for SFR in West Berlin, New Jersey

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date


Property Type
Single Family Residence
Property City

West Berlin

Property State


Loan Term (months)


Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Renovation Budget


Renovation Budget Funded


Borrower's Contribution to Budget


After-Repair Value


Renovation Project Scope

Light Rehab

Location Type


Number of Units


Building Square Footage


Borrower's Plan

Rehab and Rent

Exit Strategy


Interest Rate


Origination Points


Deal Highlights

Borrower is an experienced investor seeking funds to acquire and rehab subject property.
More than 10 verifiable rehab projects on Borrower's resume.
Property purchased for 256k, with intentions to put 60k of rehab into the property.
Expected ARV is around 410k, for an estimated ROI of about 26% for the investor.
Borrower's exit strategy is to refinance and hold upon completion of rehab.

Deal Summary

RCN Capital, a national direct private lender, funded a $268,600 1st lien position fix and flip loan for a single-family home in West Berlin, NJ. We funded 100% of the $60,000 renovation budget and 80% of the $256,000 purchase price, while the Borrower contributed 20% cash to the purchase at closing. The subject was appraised for $260,000 as-is, and the after-repair value was estimated at $410,000 which evidenced a return on investment for the Borrower of just over 26%. The Borrower was an experienced investor with a mid-score of 661 and bank statements that reflected sufficient assets. They plan to refinance as an exit strategy upon completion of the light rehab. The initial advance was 81.48% loan-to-cost and 80.23% loan-to-value. The total loan amount was 65.51% of the after-repair value. The subject property is approximately 2,002 square feet. The interest rate was 11.24% and we charged 0.5% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in April 2024. 

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Austin Pallone

Team Loan Officer

Austin joined RCN Capital in 2019. Austin started his RCN career as a Lead Development Specialist, working closely with loan officers to help vet out new deals and provide pricing for all incoming and current deals in their pipelines. Austin takes pride in his communication skills, being straightforward and setting expectations upfront for all parties involved. He believes it is one of the biggest keys to his success in this industry. Austin graduated from Central Connecticut University with a Bachelor of Science. He then when on to be a certified occupational assistant until finding his passion in real estate.