The developer closed on this property on January 22, 2016 with funding from Fund That Flip. Your investment will begin accruing interest on the day it clears escrow.
Fund That Flip will provide $266,063 to the developer at closing. Fund That Flip is holding back $8,938 for 3 months of pre-paid interest. The total loan-to-value at closing is 73.3%.
Over the course of the project, the developer will contribute an estimated $173,413 in equity, including an estimated $130,938 at the time of closing. The total loan-to-ARV is 57.1%.
There is a 3 month pre-payment penalty, meaning investors will earn interest through April 22, 2016, even if paid back earlier. The term of the underlying loan is 6 months.
Proyecto ofrecido por