General Information

  • IRR%: -
  • CoC%: -
  • Minimum: 5k USD
  • Type: -
  • Asset: -
  • Investors: 0
  • Start Date: 2018-04-10
  • End Date: 2018-04-10
  • Target: 150k USD
  • Completed: 100%

Additional Information

  • 65 Camelot Drive
  • 25701
  • Huntington
  • WV
  • United States

Fund That Flip closed the loan on this property on November 10, 2016. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip has provided $92,906 to the developer at closing for an as-is loan-to-value of 74.3%. Fund That Flip is holding back $5,781 for 3 months of pre-paid interest.

The construction budget is $57,000. Fund That Flip will finance $45,313 and will be released to the borrower as work is completed. The construction draws will be made in 3 equal distributions of $15,104 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 $55,562 in equity, including an estimated $32,094 at the time of closing. The total loan-to-ARV is 50.2%.

There is a 3 month pre-payment penalty, meaning investors will earn interest through February 10, 2017, even if paid back earlier. The term of the underlying loan is 9 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.

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