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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
06/25/2026
Property Type
Single Family Residence
Property City
Bedford
Property State
VA
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$68,000
Loan-to-Purchase Price
0%
Borrower's Contribution to Purchase
100%
Source of Borrower's Contribution
Cash
Renovation Budget
$121,000
Renovation Budget Funded
100%
Borrower's Contribution to Budget
0%
After-Repair Value
$250,000
Loan-to-After-Repair Value
50%
Renovation Project Scope
Heavy Rehab
Location Type
Rural
Property Condition
Poor
Occupancy at Closing
Vacant
Number of Units
1
Building Square Footage
1,000
Lot Acreage
8
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Excellent
Interest Rate
13%
Origination Points
3%
Deal Highlights
A full rehab of a rural property where the renovation budget exceeded the purchase price.
Borrower is a knowledgable agent and investor with experience renovating property in the area.
Deal Summary
This experienced borrower found a motivated estate seller and was able to obtain a large discount compared to the list price. The Red Rock team saw the potential as this borrower has good credit, solid liquidity and previous experience renovating properties within this local market. Red Rock agreed to fund 100% of the renovation budget as the borrower funded the purchase price.
Funded By
