Information Générale

  • IR% : 10.5
  • CoC% : -
  • Minimum : 5k USD
  • Type de financiation : -
  • Type de bien : -
  • Investisseurs : 0
  • Date de lancement : 2018-04-10
  • Date de fin : 2018-07-10
  • Objectif : 365k USD
  • Complété : 100%

Information additionnelle

  • 4915 New Road
  • 18925
  • New Hope
  • PA
  • États-Unis

Fund That Flip has re-opened this project for additional investment as the borrower has advanced construction and begun drawing on rehab funds.

Fund That Flip closed the loan on this property on April 07, 2017. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip has provided a first distribution of $203,708 to the developer at closing for a loan to purchase of 74.3%. Fund That Flip is holding back $14,448 for 3 months of pre-paid interest.

The construction budget is $180,400. Fund That Flip will finance $134,394 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 the percentage of completion of the project. Fund That Flip expects to make 4 construction draws, but may schedule additional inspections as needed. The final draw will be release after all work is verified to be complete.

Over the course of the project, the developer will contribute an estimated $143,196 in equity, including an estimated $70,292 at the time of closing. The total loan-to-ARV is 63.0%. There is a 3 month pre-payment penalty, meaning investors will earn interest through July 07, 2017, even if paid back earlier. The term of the underlying loan is 12 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.

Projet proposé par

Fund That Flip

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