Loan amount
$975,000
Loan type
Refinance
{Fix&Flip}
After Repair Value
$3,100,000
ARV
31%
{ARV}
Property type
Single Family
Borrower Details
Credit score
720
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
West Palm Beach
State
Florida
Loan Details
Current mortgage balance
$625,000
Cost of improvements
$350,000
Estimated property value after repairs
$3,100,000
Additional Loan Information
1924 historic home in need of new mechanicals and a 300 sq ft expansion and adding a guest suite to the garage. Also adding a pool. We bought the house in November 2022 with the intention of a full remodel. We are currently selling another asset and need capital to finish this project. We are a husband and wife team. Lauren Russo does interior design and project management and holds a real estate license. Charles Russo has a career in institutional real estate management and development. We are well versed in the market and in loans and development.
Status
Open
Created
April 18, 2023 - 6:56am
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