Fix & Flip – Metarie, LA

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Note Size: $236,500
>$100K Remaining

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

Address: 1017 Airline Park Blvd., Metarie, LA 70003
  • Country: United States
  • Province / State: Louisiana
  • Postal code / ZIP: 70003
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  • Note ID 2023LA1017
  • Price Note Size: $236,500
  • Property Type Single Family
  • Property status >$100K Remaining
  • Bedrooms 4
  • Bathrooms 2
  • Year Built 1973
  • Size 1,766 SqFt
  • Label Partial Note
  • Note Type Fix & Flip
  • Whole Note - Annual Yield (%) 12%
  • Participation - Annual Yield (%) 12.0%
  • Loan Maturity Date (MM/DD/YY) 05/04/24
  • Property Current Value ($) $135,000.00
  • Property Construction Budget ($) $115,000.00
  • Property After Repair Value ($) $350,000.00
  • Loan to Current Value (%) 90.00%
  • Loan to After Repair Value (%) 67.57%
  • Loan Exit - Est. Profit ($) 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.
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