Hard Money Loan for 3-Unit Fix & Flip Property in Petworth, Washington DC

Funded by Adler Private Lending

$1,100,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

10/15/2015

Property Type
2-4 Units Residential
Property City

Washington

Property State

DC

Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price

$550,000

Loan-to-Purchase Price

96%

Borrower's Contribution to Purchase

4%

Source of Borrower's Contribution

Cash

Loan-to-Value

65%

Renovation Budget

$600,000

Renovation Budget Funded

96%

Borrower's Contribution to Budget

4%

After-Repair Value

$1,700,000

Number of Units

3

Deal Summary

Adler Private Lending, a direct lender for DC and Northern Virginia, funded a $1,100,000 1st lien position fix and flip loan for a 3-unit property in Petworth, Washington DC. The purchase price was $550,000, the rehab costs were $600,000. We funded 96% of the total costs and the Borrower put down just 4% cash. The after-repair-value was estimated at $1,700,000 so the loan-to-value was 65%. This hard money loan was funded in October 2015.

Funded By

Adler Private Lending

"Boots on the Ground" Direct Lender for DC and Northern Virginia only