Fix & Flip
Posted 20d agoFix & flip retail in Nashville
$480,000
Location
Nashville, TN 37203
Target rate
12.12%
Term
6 mo
Property type
Retail
Property & underwriting
- Occupancy
- Tenant occupied
- Units
- 2
- Lien position
- Second lien
- As-is value
- $673,000
- LTV (as-is)
- 71.3%
- Purchase price
- $649,000
- After-repair value
- $782,000
- Loan-to-ARV
- 61.4%
- Rehab budget
- $51,000
- Exit strategy
- Lease-up then refinance
- Borrower experience
- 6-15 deals completed
- Credit score range
- 600-649
- Borrowing entity
- S-Corp
- Funding timeline
- 30 days
- Additional collateral
- Retail at Nashville, TN
Use of funds
Purchase
Deal summary
Refinance existing hard money on a retail in Nashville, TN. Borrower is seeking $480,000 at up to 12.12% for 6 months. Sell after renovation.