Childs Ave, Philadelphia, PA

Location: Philadelphia, PA

Work Description: Fix & Flip –  Single Family

Purchase Price: $145,000

Renovation Budget: $60,200

Loan Amount: $183,250

Loan Structure: 12 Months Interest Only

Loan Purpose: Hard Money Fix and Flip Loan

After Repaired Value: $300,000

Fix Flip Bridge Loan

 

Situation:

Source Realty Capital recently funded the purchase of a single family home in Philadelphia, PA.  The borrower, a new customer, is an experienced investor that needed a lender which understands his capital needs.  Source Realty Capital was able to close this loan in under a week and provide the investor with the capital he needed for the renovation budget.  We advanced the borrower 85% of the purchase and 100% of the renovation budget.