General Information

  • IRR%: -
  • CoC%: -
  • Minimum: 5k USD
  • Type: -
  • Asset: -
  • Investors: 0
  • Start Date: 2018-04-10
  • End Date: 2018-04-10
  • Target: 175k USD
  • Completed: 100%

Additional Information

  • 116 Hinsdale Avenue
  • 28305
  • Fayetteville
  • NC
  • United States

Fund That Flip closed the loan on this property on June 29th, 2016. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip has provided $98,094 to the developer at closing for an as-is loan-to-value of 75.5%. Fund That Flip is holding back $5,906 for 3 months of pre-paid interest.

The rehab budget is $70,000, of which Fund That Flip will finance $65,094 through construction draws. The draws will be made in three equal distributions of $21,698 as work is completed and verified. 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 $54,244 in equity, including an estimated $37,525 at the time of closing. The total loan-to-ARV is 54.7%.

There is a 3 month pre-payment penalty, meaning investors will earn interest through September 29th, 2016, 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 chose to grant the extension, investors will earn an additional one-time 0.5% fee on their investment.

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