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 : 2018-04-10
  • Objectif : 400k USD
  • Complété : 100%

Information additionnelle

  • 276 Silvermine Ave
  • 06850
  • Norwalk
  • CT
  • États-Unis

Fund That Flip closed the loan on this property on March 22, 2017. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip has provided $195,167 to the developer at closing for an as-is loan-to-value of 65.1%. Fund That Flip is holding back $13,333 for 3 months of pre-paid interest.

The construction budget is $252,100. Fund That Flip will finance $178,000 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 % 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 $205,767 in equity, including an estimated $104,833 at the time of closing. The total loan-to-ARV is 62.8%.

There is a 3 month pre-payment penalty, meaning investors will earn interest through June 22, 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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