Indianapolis Hard Money Loan Funds Great Flip
Arnie was able to complete this beautiful house flip with an Indianapolis hard money loan from Do Hard Money. He decided to work with us after speaking with Sindi and Don, and went right to work to find the right property.
Arnie utilized his support team here at DHM to learn from his experience. This particular property was the fourth one submitted to the Advanced Deal Analyzer. Going over the figures from each of those with Sean, a Senior Account Advisor here, Arnie was able to learn what would make a good deal and when to walk away from a bad one. There are of important traits a real estate investor can either bring to their business or work to cultivate as they grow the business. The traits of being flexible – because obstacles arise, willing to learn- because new investors are presented with information at a rapid pace, and not getting so set on a deal that they cannot walk away is a vital skill to learn.
That last one is one that we see trip up some new investors. They worked so hard to find a property and the initial assessments looked promising, but as more data was obtained the deal was not one that could be funded. Arnie was great at moving on when a potential deal didn’t pan out.
Once it was determined that this deal could be funded there were a few additional challenges. You’ll see when reviewing figures that there were some additional liens involved with this deal.(We redacted related information for privacy). This necessitated a bit more cash to close on his part, but he proceeded with the deal because it still calculated as profitable.
Team members Kim, Christy & Dick helped Arnie complete this flip, and we are excited to work with him again. Arnie learned a great deal on this investment and he is on his way to being a full time investor if he chooses.
$23,987 is a great pay out. Remember, that is the figure he pocketed AFTER all loan costs, selling and holding costs, and PAYING HIMSELF BACK FOR THE CASH TO CLOSE. This great investment in Indiana is a gem.
Check out the proof.
To see further details* of Arnie’s deal, check out the tables below!
Speak with a member of our team to learn how we can assist you with your real estate investment success. Call 317-999-6399 or click on the button below to talk with DHM about your investment goals.
|Loan Details*||Cost||% Funded|
|Property Purchase Price||$51,500||100%|
|Closing Costs, Selling Costs & Misc. Fees*||$17,992*|
|Cash to Close||$28,681|
|DHM Loan Amount||$102,532|
|Property Sale Details*||Amounts|
|Property Sale Price||$179,500|
|Repay Loan Amount||$105,330|
|Closing Costs Paid By Seller||$4000|
|Repay Cash to Close||$28,681|
|Adustments, Commissions, Taxes & Misc. Fees*|
*Some amounts are rounded for simplicity. Minor loan details not included in some totals.