Address: Clearwater, FL 33756
ARV: $114,900 (As-is)
Loan Amount: $69,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 13%
LTV 60%
Borrower Profile: Experienced Investor
Work Description: Fix & Flip
Loan Purpose: Purchase
October 18, 2024
We recently assisted a group of real estate investors in We recently assisted a group of real estate investors in acquiring a property in a prominent neighborhood of Clearwater, FL. They secured a great deal, purchasing the home for $114,900. The property requires approximately $100,000 in repairs, and its After Repair Value (ARV) is estimated to be close to $400,000. When these investors approached us, they were at risk of losing both the property and their down payment if they couldn’t close by the scheduled date of October 18, 2024. Despite the challenges posed by a hurricane affecting the area just 10 days prior, we were able to provide them with the funds they needed to complete the purchase. They received a loan of $69,000 with a 13% interest-only rate and a 6-month Pre-Payment Penalty (PPP). The investors plan to sell the home within the next 12 months.
