Fix & Flip in Fort Lauderdale
Southeast 7th Street, Fort Lauderdale, FL, USA
Property Type
Residential
Length
12 months > Term
Appraised Value
$3,000,000 Appraised Value /
LTV
42%
About this Property
I purchased a house for sale on the intercostal from bankruptcy. The neighboring homes are selling between $4-$6mm. The property needs some considerable rehab, and that is what this loan is for.
Listing Details
- Term: 12 months
- Appraised Value: $3,000,000
- LTV: 42%
- Status: vacant
- Property Type: Residential
- Purchase Price?: $2,000,000
- Listing Type: Commercial
- ARV: $5,000,000
- Current NOI: n/a
- Pro Forma NOI: n/a
- Building Size: 3,000sqft
- Land Area: .45 acres
- Occupancy: n/a
- Experience: 1-4 Deals
- Number of Units: 1
- Date Purchased: December 2019
Financials
- Loan Amount: $1,250,000.00
- Estimated Net Worth: n/a
- Estimated Income: n/a
Client Information
- Has the client used private money in the past?: Yes
- Has the client had any banckruptcy in the last 5 years?: No
- Client Background
- Client is a Contractor. His bread and butter is SFR Fix & Flips in the South Florida area. He needs the funding for the construction of the property. After 12 months he will sell or refinance with traditional financing and repay the lender.
Details
Loan Purpose
- Construction Loan
- Fix & Flip
Role
- Contractor
Listed by shah
- Profile Status
- Verified
