Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
07/15/2016
Property Type
Single Family Residence
Property City
Coyle
Property State
OK
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$87,500
Loan-to-Value
55%
Renovation Budget
$33,000
Exit Strategy
Sale
Deal Summary
RCN Capital, a national direct private lender, funded a $90,000 1st lien position fix and flip loan for a single-family home in Coyle, Logan County, Oklahoma. The purchase price was $87,500. The anticipated renovation cost is approximately $33,000 and LTV (loan-to-value) is 55% of the ARV (after-repair value). After the renovations are completed the Borrower plans to list the property for $165,000. This SFR fix and flip loan was funded in July 2016.