New Orleans Rehab Investment Funded
She found this great property and we set to work to evaluate the deal. As you can see in the photos below, a complete rehab is going to be needed to bring this property up to the ARV of $375,000.
Fortunately, the mold damage remediation was within the parameters DHM has for such situations, so the deal could proceed.
When all is done and the property is listed and sold it looks like Sonja can walk away with a projected profit of close to $100,000. And that is after all the costs are paid, including her very small cash to close of just over $3200.
This is such an exciting deal, and we are looking forward to working with her throughout the project and watching the transformation happen.
|Loan Details||Cost||% Funded|
|Loan, Closing & Misc. Costs||$44,148.40||92%|
|Do Hard Money Loan Amount||$245,900|
|Cash to Close||$3,237.40|
|Projected Resale Price (ARV)||$375,000|
|Estimated Selling Costs||$22,500|
|Holding & Misc. Costs||$5,000*|
You can view the HUD here.
*some figures are estimates or rounded down for simplicity. Actual figures may change after the deal completion.
Check Out The Before Pictures!
The Rehab Possiblities Are Promising
When you look at all of the before pictures of this deal you can see that the interior of the house almost needs to be completly redone. And that’s exciting when you are the one flipping the house. A great contractor is a must for this type of investment. We’ve provided Sonja with an experienced construction project manager, to help her work with her contractor to keep such an extensive project on budget and on schedule. Those two things are crucial for a successful rehab investment.
We Would Love To Fund Your New Orleans Rehab Investment
Actually we can fund qualified deals all throughout the state of Louisiana, as well as 30 other states and DC. We can fund deals in nearby states like Alabama and Georgia, as well as help you with deals that are further away. We can also fund other types of real estate investments for experienced investors. Call us today 1-504-335-1958, or click on the link below to get started. We want to be your hard money lender.