Mid-West Family homes has the following lending opportunity:

Subject Property: SFR 3/2

As-is Value (rehab already underway):                      $125,000

Purchased Price:                                                          $70,000

Rehab:                                                                         $34,000

ARV:                                                                          $139,000

This is a property is owned by Mid-West Family Homes Inc. Rehab has already been started and is scheduled to be completed on January, 17 2014. We will refinance the entire project and give first position for $104,250 or we will take a second position loan for $26,375 (First Position principal plus accrued interest is approx. $77,875).  Estimated hold time after completion is 30 days plus 6-8 weeks for appraisals.  Either option we will pay a lump sum P&I payment upon sale of subject property.  For example: If loan is funded on 1-17-14 and the property is sold on 4-17-14 you will receive one lump sum on 4-17-14 for $110,505.  Lender will be listed on insurance policy as mortgagee and mortgage will be recorded with Codington County of South Dakota.   For more information please contact Ryan@mwfhomes.com or my Cell (605) 881-3641.

Ryan

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Sorry, I don't know how to edit the original post but the calculation in the example is based on a sale/close date of 5-17-14 not 4-17-14.

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