A hard money loan in Harvey, LA has recently made the dream of becoming a successful real estate investor a reality for Theodore G.
This hard money loan in Harvey, LA showcases a deal that is a great example of how completing a rehab can change a home, a community and even the economy. Do Hard Money was able to provide funding to Theodore for this deal. Once DHM was able to determine that this was a great deal meeting our criteria, we extended a hard money loan for $40,800.
The costs to rehab the property totaled approximately $31,500 and the property sold quickly on the MLS! This gave Theodore an estimated profit of a whopping $45,850!
Janitsa is the team member who helped Theodore get started. Everyone in both of our locations are thrilled to to work with Theodore and help him realize his REI goals. We enjoy watching investors take properties and change their communities for the better.
According to a recent Nola article, Louisiana is predicted to be the 6th hottest real estate market for 2016. Obtaining a hard money loan for a Louisiana property is a good option for new and experienced flippers.
One of the things we have learned working with investors for so many years is that the property type that leads to the most success for those getting started are single family homes like this one that Theodore found, usually under $250,000. The market for these homes is stronger, therefore making it easier to sell the property once the repairs and enhancements have been completed.
For further details* on Theodore’s deal, check out the table below!
|Loan Details||Cost||% Funded|
|Total Funding Needed for Deal||$89,301|
|Do Hard Money Loan Amount||$78,000|
|Seller Paid Costs||$301|
|After Repair Value (ARV)||$145,000|
|Estimated Net Profit||$45,850|
*Minor loan details not included.
We are so excited for Theodore’s success and would love to offer you 100% financing on your next fix-and-flip real estate investment! Anxious to get started? Do Hard Money is here to help you open the door to financial freedom.
Click on this link to schedule your appointment with our investment associates or give us a call at 801-948-9774. Who needs the drudgery of a 9-5 job when you can be your own boss and earn tens of thousands per investment deal, bringing $0 cash to close on lucrative properties. Schedule your appointment today!