2023LA1017
Note ID
1,766 SqFt
Size
4
Bedrooms
2
Bathrooms
Description
This is a medium rehab project on a single family home in a neighborhood outside of New Orleans. This is a typical project for the sponsor who has completed and paid off over 10 loans with Aloha Capital.
Address
- Country: United States
- Province / State: Louisiana
- Postal code / ZIP: 70003
- Note ID 2023LA1017
- Price Note Size: $236,500
- Property Type Single Family
- Property status >$100K Remaining
- Bedrooms 4
- Bathrooms 2
- Year Built 1973
- Size 1,766 SqFt
- Label Partial Note
- Note Type Fix & Flip
- Participation - Annual Yield (%) 10.5%
- Loan Maturity Date (MM/DD/YY) 11/03/23
- Property Current Value ($) $135,000.00
- Property Construction Budget ($) $115,000.00
- Property After Repair Value ($) $350,000.00
- Loan to Current Value (%) 90.00%
- Loan to After Repair Value (%) 67.57%
- Loan Exit - Est. Profit ($) 300%
- Loan Exit - Est. Profit (%) 300%
- Invest - Participation Agreement https://na3.docusign.net/Member/PowerFormSigning.aspx?PowerFormId=f4ce203f-34ed-422f-a115-a5fe726ad562&env=na3&acct=dc183316-55b9-4b28-b9ae-24cc404e81a6&v=2
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Sponsor & Guarantor
Sterling C
Sterling is a very experienced, full-time real estate investor with a portfolio of single family, and 2-4 units that have been renovated and are stabilized. He also invests into larger multifamily properties with a small group of other real estate investors. He has a popular real estate podcast and is a frequent speaker at real estate education seminars and conferences. Aloha has financed many (20+) of his rehab and stabilized rental properties in the past.Similar Notes
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.
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 […]
