Need to refiance a rehab we already have partially completed and pay off a $ 27,500 underlying note. In addition, we will need an additional $ 20,000 to complete this 2,100 sq. ft. 4/3 on 1/2 acre and use that $20,000 to install a new roof, stucco, sheetrock, paint and flooring. Central air is already done, plumbing has all been replaced, electric is already paid for...
Simple rehab to complete now that all the structural work has been completed.
To recap:
ARV is in the mid $ 120,000 range
Want to borrow $ 47,500 to finish the rehab and pay off underlying not
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