General Information

  • IRR%: 10
  • CoC%: -
  • Minimum: 5k USD
  • Type: -
  • Asset: -
  • Investors: 0
  • Start Date: 2018-04-10
  • End Date: 2018-04-10
  • Target: 276k USD
  • Completed: 100%

Additional Information

  • 875 Red Oaks
  • 07740
  • Long Branch
  • NJ
  • United States

Fund That Flip closed the loan on this property on May 26th, 2016. Your investment will begin accruing interest on the day it clears escrow.

Fund That Flip will provide $276,000 to the developer at closing for an as-is loan-to-value of 77.9%. Fund That Flip is holding back pre-paid interest of $7,245, which represents interest for the balance of the current month and the next 3 months.

The borrower will finance 100% of the construction budget himself.

Over the course of the project, the developer will contribute an estimated $666,730 in equity, including an estimated $94,995 at the time of closing. The total loan-to-ARV is 26.8%.

There is a 3 month pre-payment penalty, meaning investors will earn interest through August 26th 2016, 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 chose to grant the extension, investors will earn an additional one-time .5% fee on their investment.

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Fund That Flip

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