Fix & flip
Posted 8d agoDuplex renovation in Bushwick
$385,000
Location
Brooklyn, NY
Target rate
9.50%
Term
18 mo
Property type
Single family
Property & underwriting
- Occupancy
- Non-owner occupied (investment)
- Lien position
- 1st lien
- As-is value
- $592,308
- LTV (as-is)
- 65.0%
- Exit strategy
- Sale of property
- Borrower experience
- 4-10 deals completed
- Borrowing entity
- LLC
- Funding timeline
- 2-4 weeks
- Additional collateral
- Residential duplex
Use of funds
Renovation
Deal summary
Two-unit brick duplex, gut renovation with permits in hand. Exit by sale in 14-18 months. Experienced sponsor with four completed projects.