CLOSED – Long Beach – 100% LTV – Funded

santa-ana-pics-1We love it when our clients find diamonds in the rough. This beautiful Long Beach SFR was acquired through probate for an amazing price of $450,000. They are going to rehab it with a modest $60,000 rehab budget and then resell it for $715,000. Not bad right?

We provided 100% financing and gave them the entire $450,000 for the purchase price of the home. It doesn’t get any more than 100% out there now does it?

 

The Loan

The private money loan we provided our client was one of the best that we offer. We provided him 100% of the purchase price, or in this case the entire $450,000. This enable hime to complete the entire project with only having to come up with the rehab funds and the closing costs. With having 100% LTV options for borrowers it means that they can leverage their own money and maximize their profits.

We at Private-Money-Loan.com were able to complete this transaction for our client in 11 days.

Profitability

Everyone always wants to know just how much are the fix and flippers going to make when they close on the deal. This is a rough estimate of the profitability for this particular deal that we financed with our Private Money sources.

Purchase Price: $450,000

Holding Costs: $15,000

Rehab Budget: $60,000

RE Commission: $35,750

Closing Costs: $4,250

Sub Total of Costs: $565,000


Projected Resale (ARV): $715,000

Cost (from above): $565,000


Projected NET Profit: $150,000

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