Duplex Rehab
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 13% |
| Lender Rate: | 14% | Borrower: | LuckyFrog |
| Finished | State: | KY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-30 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Apr 30, 2008 | Current |
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Purpose of loan: This loan will be used to? Complete a rehab on a duplex in Covington, Ky. I anticipate a shortfall of around $25,000 for this project. My financial situation: I am a good candidate for this loan because?In the past year I have bought and sold, or bought and held twelve properties. I have never had a negative deal. I own this property outright and am willing to secure the loan with the property. I plan to complete the rehab and then refinance the property to repay the loan as well as my investment capital. I am not flipping this property. This property will take about $75K to complete and will appraise at around $130,000 when completed. It will cash flow $1550.00 gross each month. If any one has any questions please feel free to contact me. |
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