Details

Address of deal

302 E Street, Anderson, SC, 29625

Amount of money needed in $USD

$125,050.00

Length of time money is needed

60 days

Expected close date

11/3/23

How you will use the money?

To purchase the property and renovate it to make the duplex rent-ready.

How much are you offering for the return in $USD (minimum $1000)?

20% flat return

What is your exit strategy to pay back the lender?

We will refinance into a long-term loan for this rental.

What is Exit strategy #2 if #1 fails?

We have private, potential buyers lined up.

ARV in $USD

$190k

Purchase price in $USD

$65,000.00

Lien Position

1st

Borrower's experience & expertise

14 years of combined experience in construction, hotel renovation, project management, general contracting, and flips.

Additional Details
Mostly minor (wear and tear) interior fixes.  Exterior is in good shape.  Closing was extended verbally, but need to get everything in writing.