)
Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
06/28/2024
Property Type
Single Family Residence
Property City
Sedalia
Property State
MO
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$40,000
Loan-to-Purchase Price
80%
Borrower's Contribution to Purchase
11%
Source of Borrower's Contribution
Cash
Renovation Budget
$60,242
After-Repair Value
$141,000
Loan-to-After-Repair Value
67%
Renovation Project Scope
Heavy Rehab
Location Type
Suburban
Property Condition
Poor
Occupancy at Closing
Vacant
Number of Units
1
Building Square Footage
1,047
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Average
Interest Rate
12.5%
Origination Points
3%
Deal Summary
We funded this SFR deal in Sedalia, MO for a borrower that lives out of state. This project required a heavy construction budget in comparison to the purchase price of the property. The borrower has good experience in rehab’s and has a contractor partner locally. We have been in constant contact with the borrower who has already been in town to check in on progress. Project is going along as expected.
Funded By
Minnow Loan
Your Deal. Our Money.
Dealmakers
Shelby Reed
Co-Founder