$45k Needed for fix and flip in Oklahoma. Property is a U.S.D.A. Repo 3 bed 1 bath under contract and in Escrow. I am converting to 3 bed 2 bath then renovating and updating the rest. Here's the details of the deal:
My acquisition price - $8,350
As-is value - 24,000
After-Repair Value - 85,000 (Broker Price Opinion and comps)
Estimated repairs - 34,000
Closing date - August 18, 2016
Would like to finance purchase + repairs and soft costs $45-47k TOTAL (depending on points, etc.)
21 years California Realtor and Mortgage broker with plentry of flip experience prior to 2008.
I am offering 14% + 5 points for 6 months or less.
Please thoroughly review the attached Lender proposal and BPO comps before contacting me. Serious lenders only!
Contact - email@example.com