Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
04/12/2024
Property Type
Property City
Owings Mills
Property State
MD
Loan Term (months)
6
Lien Type
1st Mortgage
Payment Type
Interest Only
Borrower's Contribution to Purchase
17%
Loan-to-After-Repair Value
67%
Renovation Project Scope
Cosmetic
Location Type
Suburban
Property Condition
Fair
Occupancy at Closing
Vacant
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Good
Deal Summary
Property Flip Loan Funds $429,000 Fix-and-Flip Loan in Owings Mills, MD. In April 2024, Property Flip Loan successfully closed a $429,000 fix-and-flip loan for an experienced borrower in Owings Mills, Maryland. The loan funded 100% of the $60,000 rehab budget, allowing for the transformation of a 5-bedroom, 3-bathroom, 4,225-square-foot single-family home. Loan terms included a 6-month duration at 12% interest-only payments, with 2 points paid at closing. The borrower, known for delivering high-quality renovations, is expected to complete the project and refinance as part of their exit strategy.
Dealmakers
Marc DeLeonibus
Founder
Marc DeLeonibus is the Founder of Property Flip Loan, a boutique private money lender based in Annapolis, Maryland. As a direct private lender, Marc funds all deals with his own capital, eliminating intermediaries and ensuring competitive terms for his clients. With a focus on building long-term relationships, Marc provides fast, reliable access to capital for real estate investors in Maryland, DC, and Virginia. Known for his streamlined process and ability to close loans within days, Marc prides himself on delivering personalized service that traditional lenders simply can’t match.