Fix & Flip – River Ridge, LA

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Note Size: $247,140
>$100K Remaining

2023LA9001

Note ID

1,800 SqFt

Size

3

Bedrooms

2

Bathrooms

Description

This is a light renovation on a property by an experienced investor who has completed 5 similar sized projects. The project is 79% complete and ahead of progress milestones.

Address

Address: 9001 Rensu Drive River
  • Country: United States
  • Province / State: Louisiana
  • Postal code / ZIP: 70123
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  • Note ID 2023LA9001
  • Price Note Size: $247,140
  • Property Type Single Family
  • Property status >$100K Remaining
  • Bedrooms 3
  • Bathrooms 2
  • Year Built 1957
  • Size 1,800 SqFt
  • Land area 7,840 SqFt
  • Label Partial Note
  • Note Type Fix & Flip
  • Participation - Annual Yield (%) 11.5%
  • Loan Maturity Date (MM/DD/YY) 08/01/2024
  • Property Current Value ($) $131750
  • Property Construction Budget ($) $115390
  • Property After Repair Value ($) $427000
  • Loan to Current Value (%) 91.4%
  • Loan to After Repair Value (%) 57.88%
  • Loan Exit - DSCR (Ratio) 1.05

Supporting Documents

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Sponsor & Guarantor

Kade W.

Kade is an experienced Real Estate Investor working in several markets.   His current focus is on renovating SFR’s in the New Orleans area.  He has completed 3 deals with 3 currently in process.  In addition to being a Real Estate Investor, he also has experience wholesaling properties.  Kade personally manages all of his projects to ensure the quality of the work. 
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