Baltimore Maryland Fix and Flip Loan

Benjamin M. found an excellent fix and flip opportunity in Baltimore, MD. This four-bedroom, three-bathroom cottage definitely needed some massive repairs and a serious upgrade. Benjamin knew this property held a ton of potential when he saw the absolutely beautiful, safe neighborhood and that the property had a covered back porch. He never performed a rehab before, but wanted to give real estate investments a try and see how much profit he could make. Benjamin brought this deal to Do Hard Money and we walked him through every step of the process. We covered 100% of the property purchase price and the rehab costs. We also funded 50% of the closing costs for this deal.

With funding approved, Benjamin hit the ground running with this spectacular rehab. The home was in absolute shambles when he first purchased it at an incredible discount – only $65k! He worked around the clock to update this property and his hard work certainly did not go unrewarded! First, Benjamin updated the kitchen with beautiful new cabinets and stainless steel appliances. He also added new tile flooring and granite counter tops. Then, Benjamin refinished the hard wood floors to restore their shine. He also updated the bathrooms with new custom tile flooring and matching vanities. Finally, Benjamin rounded off the rehab by installing new carpets in every bedroom and adding new interior paint throughout the home. As a result of his hard work, Benjamin earned an overall estimated profit of $37,264 on this property! To take a closer look at the loan details*, check out the table below!

Loan Details Cost % Funded
Purchase Price $65,000 100%
Rehab Costs $47,352 100%
Closing Costs $15,583 50%
Interest $7,512
Total Funding Needed for Deal $135,446
Do Hard Money Loan Amount $120,185
Earnest Money $1,500
Seller Paid Costs $178
Cash-to-Close $13,584
After Repair Value (ARV) $184,900
Selling Costs $13,868
Loan Payoff $120,185
Cash-to-Close Payback $13,584
Estimated Net Profit $37,264

*Minor loan details not included.

 

Do Hard Money is so pleased we could help Benjamin achieve great success with his first fix-and-flip! This deal is an excellent example of properties requiring some cash-to-close earning massive profits. Though many deals do not qualify for 100% financing, that doesn’t mean the deal isn’t good! Run the numbers with our expert evaluators and account advisors. They can help you determine whether or not your deal is lucrative enough to pursue. Who knows… your deal might even qualify for 100% financing!

We’re looking forward to helping you open the door to financial freedom. Click on this link to schedule your appointment with our investment associates. We can discuss your financial goals with you and help walk you through our process. Whether you’re a flipping expert or have no experience whatsoever, Do Hard Money can help you achieve your goals.

If you prefer to get in touch with an REI expert right away, give us a call at 801.948.9774. You can also get pre-qualified for a loan right away by filling in the fields of the yellow ‘GET PRE-QUALIFIED’ box on the right.

It’s time to kick that boring 9-5 job to the curb and become your own boss through profitable real estate investments. We can help you get started immediately! Schedule your appointment today!

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