2023CO2525X
Note ID
3,500 SqFt
Size
5
Bedrooms
3
Bathrooms
Description
This loan is a second position loan behind the borrowers existing ~$950K loan with a bank at less than 3%. The purpose of the loan is to complete a light renovation including paint, carpet/flooring upgrades, lighting, landscape and other minor improvements along with staging to maximize the speed and price of sale. With the $150,000 second position loan, this total loan-to-value (LTV) will be less than 50%.
Address
- Country: United States
- Province / State: Colorado
- Postal code / ZIP: 80304
- Note ID 2023CO2525X
- Price Note Size: $150,000
- Property Type Single Family
- Property status >$100K Remaining, Coming Soon
- Bedrooms 5
- Bathrooms 3
- Year Built 1991
- Size 3,500 SqFt
- Label Partial Note, Subordinated Note, Whole Note
- Garages 2
- Note Type Fix & Flip
- Whole Note - Annual Yield (%) 14.00%
- Participation - Annual Yield (%) 13.5%
- Loan Maturity Date (MM/DD/YY) 03/31/24
- Property Current Value ($) 2,150,000
- Property Construction Budget ($) 150,000
- Property After Repair Value ($) 2,500,000
- Loan to Current Value (%) 51%
- Loan to After Repair Value (%) 44%
- Property Rent Estimate ($) 6,500
- Loan Exit - Est. Profit ($) 127%
- Loan Exit - Est. Profit (%) 127%
Similar Notes
This is a light renovation on a property by an experienced investor who has completed 5 similar sized projects.
The property is a recently built single family in the lower highlands neighborhood of Denver. It is listed for sale currently at $2,245,000.00. The loan is a bridge to payoff the construction loan until the property is sold. 3642 Mariposa St, Denver, CO 80211 | Redfin
Detached Duplex with 5 bedrooms and 2 bathrooms in the Clark-Fulton Neighborhood. The borrower typically purchases and rehabs properties in cash and is using purchase only financing on this property to be more efficient with his capital. Upon completion of rehab, the loan will be refinanced into a DSCR loan from Aloha Capital.
A quick rehab on a property that will cash flow as a rental property and provide profit if sold upon completion. This project is in a neighborhood our repeat client has successfully invested into over his investing career.
The property is a recently built single family in the lower highlands neighborhood of Denver. It is listed for sale currently at $2,245,000.00. The loan is a bridge to payoff the construction loan until the property is sold. 3640 Mariposa St, Denver, CO 80211 | MLS# 3388332 | Redfin