Hard Money Loan- Pleasantville, NY

Address: Pleasantville, NY

Work Description: Fix & Flip – Single Family

Purchase Price: $432,200

Renovation Budget: 85,000

Loan Amount: $473,080

Cash Available for Purchase: $388,080

Cash Available for Renovation: $85,000

Loan Structure: 12 Months Interest Only

Loan Purpose: Hard Money Fix And Flip Loan

ARV: $800,000

 

Situation:

Source Realty Capital recently funded a hard money loan for a fix and flip project in Pleasantville, NY. The borrower, a repeat customer, is an experienced contractor that purchased this property through a short-sale process.  Given the tight timing of the short-sale process, Source Realty Capital was able to approve and fund this loan in only two days.  The borrower as able to finance 90% of the purchase and 100% of renovation.