Fix and Flip Loan for SFR in Coyle, Logan County, Oklahoma

Funded by RCN Capital

$90,000

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.

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans