Weskora Street, Pleasantville, NY

Location: Pleasantville,  NY

Work Description: Fix & Flip – Single Family

Purchase Price: $431,200

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

Private Money, Hard Money, Fix and Flip

 

Situation:

Source Realty Capital recently funded a hard money loan for a fix and flip project in Pleasantville, NY. This was a repeat borrower that purchased this property through a REO broker.  Source Realty Capital was ready to close this loan the day after the appraisal was delivered to us.  The borrower financed 90% of the purchase and 100% of renovation.