Work Description: Fix & Flip – Two Family
As Is Value: $1,500,000
Renovation Budget: $240,000
Loan Amount: $800,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Hard Money Fix and Flip Loan
After Repaired Value: $2,00,000
Source Realty Capital recently funded the refinance and renovation of a two family home in Brooklyn, NY with a hard money fix and flip loan. 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 a timely manner and provide the investor with the hard money loan they needed for the renovation budget.