Cleveland, OH Rehab

Información General

  • TIR%: -
  • CoC%: -
  • Mínimo: 5k USD
  • Tipo de financiación: -
  • Tipo de bien: -
  • Inversores: 0
  • Fecha de Inicio: 2018-04-10
  • Fecha de Fin: 2018-06-10
  • Objetivo: 110k USD
  • Completado: 100%

Información Adicional

  • 7478 Briarcliff Parkway
  • 44130
  • Cleveland
  • OH
  • Estados Unidos

Fund That Flip closed the loan on this property on December 08, 2017. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip has provided a first distribution of $81,682 to the developers at closing for a loan to purchase of 76.7%. Fund That Flip is holding back $3,483 for 3 months of pre-paid interest.

The construction budget is $21,700. Fund That Flip will finance $21,635 of the total construction budget. Fund That Flip disburses constructions funds based on verification of work performed, as determined by an independent 3rd party inspection firm. Fund That Flip reviews each inspection report and releases funds based on the percentage of completion of the project. Fund That Flip expects to make 3 construction draws, but may schedule additional inspections as needed. The final draw will be released after all work is verified to be complete.

Over the course of the project, the developers will contribute an estimated $31,567 in equity, including an estimated $24,818 at the time of closing. The total loan-to-ARV is 62.9%. There is a 3 month pre-payment penalty, meaning investors will earn interest through March 08, 2018, even if paid back earlier. The term of the underlying loan is 6 months with an option to extend for an additional 3 months. Should Fund That Flip choose to grant the extension, investors will earn an additional one-time 0.5% fee on their investment.

Proyecto ofrecido por

Fund That Flip

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