Multifamily Bridge
Posted 5h agoMultifamily bridge, Raleigh
$550,000
Location
Raleigh, NC 27601
Target rate
12.21%
Term
9 mo
Property type
Single Family
Property & underwriting
- Occupancy
- Vacant
- Units
- 4
- Lien position
- Second lien
- As-is value
- $997,000
- LTV (as-is)
- 55.2%
- Purchase price
- $963,000
- After-repair value
- $1,301,000
- Loan-to-ARV
- 42.3%
- Rehab budget
- $156,000
- Existing liens
- $165,000
- Exit strategy
- Sell after renovation
- Borrower experience
- 2-5 deals completed
- Credit score range
- 650-699
- Borrowing entity
- Individual
- Funding timeline
- 30 days
- Additional collateral
- Single Family at Raleigh, NC
Use of funds
Acquisition + rehab
Deal summary
Refinance existing hard money on a single family in Raleigh, NC. Borrower is seeking $550,000 at up to 12.21% for 9 months. Sell after renovation.