PROPERTY: 

Belmar Ave,  Baltimore MD   21206

 

DESCRIPTION:

  • Purchase price is $118,500 and construction costs are $50,000.
  • Cash to close is $51,500
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Working with an experienced rehabber and flipper as his GC.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $130,000 1st Mortgage
Value of Subject Property: $265,000
Loan to Value: 50%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  776