Loan amount
$120,000
Loan type
Refinance
{Fix&Flip}
After Repair Value
$150,000
ARV
80%
{ARV}
Property type
Single Family
Borrower Details
Credit score
750
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Detroit
State
Michigan
Loan Details
Current mortgage balance
$110,000
Cost of improvements
$10,000
Estimated property value after repairs
$150,000
Additional Loan Information
We have a property we foreclosed on. So we are seeking a lender who would be ok with taking on the risk of a short bridge loan just so we can redeem the property, invest less than 10k and list on the open market for 150k+
The property was fully renovated back in 2023 and still on very good condition. There are just a few things we’d want to do to improve it to get maximum dollar. Put siding on the garage, replace the gutters, paint the exterior fence, replace 4 windows, and 2 exterior doors. The 10k would allow is to do this.
Over the last 5 years we’ve held about 1 million in assets, and completed 7-8 projects. Our credit is very good, but just experienced a bad set of tenants which ruined our cash flow and we went belly up on a couple of deals.
We are looking to redeem ourselves as this deal will pencil out on paper I’m sure. If an investor is willing to give a stab at this deal we will be sure to make you whole, if not you have a very good piece of collateral in exchange that is already renovated about 90%
Thank you
The property was fully renovated back in 2023 and still on very good condition. There are just a few things we’d want to do to improve it to get maximum dollar. Put siding on the garage, replace the gutters, paint the exterior fence, replace 4 windows, and 2 exterior doors. The 10k would allow is to do this.
Over the last 5 years we’ve held about 1 million in assets, and completed 7-8 projects. Our credit is very good, but just experienced a bad set of tenants which ruined our cash flow and we went belly up on a couple of deals.
We are looking to redeem ourselves as this deal will pencil out on paper I’m sure. If an investor is willing to give a stab at this deal we will be sure to make you whole, if not you have a very good piece of collateral in exchange that is already renovated about 90%
Thank you
Status
Open
Created
August 31, 2026 - 11:06pm
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