Loan amount
$670,000
Loan type
Purchase {Fix&Flip}
After Repair Value
$1,400,000 {PP:$620,000}
ARV
48% {ARV}
Property type
Single Family
Borrower Details
Credit score
810
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Valatie
State
New York
Loan Details
Purchase price
$620,000
Down payment
$0
Cost of improvements
$50,000
Estimated property value after repairs
$1,400,000
Additional Loan Information
Looking to purchase a property at auction for a straight flip. Repairs not inherently necessary. I believe I can purchases the property for 670,000 or less and flip it without doing any repairs for between 900k-950k as that person can fix it up a bit and sell it for close to 1.4 million. I don't have any funds to act as a down payment or handle fees as I was just recently defrauded out of a lot of money The idea is to roll all fees into the loan at the end when it gets flipped. This auction ends in about 24 hours I hope that someone can help me out.
Status
Created
January 18, 2021 - 11:13am

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