Loan amount
$200,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$365,000
{PP:$195,000}
ARV
55%
{ARV}
Property type
Single Family
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Hudson
State
Florida
Loan Details
Purchase price
$195,000
Down payment
$45,000
Cost of improvements
$50,000
Estimated property value after repairs
$365,000
Additional Loan Information
Mostly cosmetic work needed. Property has already passed an FHA inspection, by another potential buyer that fell through. Would need new kitchen, bathrooms, flooring throughout. Paint inside and out. some landscape. New appliances.
Agent is willing to accept offer with proof of funds at 195000. sits on 1/2 acre of land (very hard to find near Tampa), is 8 mins to the beach and is less than 2 hours from Disney World. 2 flips in the neighborhood with very similar stats that sold for 369000 and 350000. This home is a 3 bed/ 2 bath 1700 sq ft home, a very desirable size and price range in the Florida Market.
Multiple exit strategies as well, LTR estimated at 2500-2600 a month. STR estimated at 3000-3500 a month. Sell or Refi are both profitable exit strategies.
This would be my first fix and flip, so you know that up front. Have been looking for some time and this is the best deal I have come across in several months near Tampa
Agent is willing to accept offer with proof of funds at 195000. sits on 1/2 acre of land (very hard to find near Tampa), is 8 mins to the beach and is less than 2 hours from Disney World. 2 flips in the neighborhood with very similar stats that sold for 369000 and 350000. This home is a 3 bed/ 2 bath 1700 sq ft home, a very desirable size and price range in the Florida Market.
Multiple exit strategies as well, LTR estimated at 2500-2600 a month. STR estimated at 3000-3500 a month. Sell or Refi are both profitable exit strategies.
This would be my first fix and flip, so you know that up front. Have been looking for some time and this is the best deal I have come across in several months near Tampa
Status
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Created
January 12, 2024 - 2:07pm
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