Loan amount
$330,000
Loan type
Purchase {Fix&Flip}
After Repair Value
$507,500 {PP:$230,000}
ARV
65% {ARV}
Property type
Single Family
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Lancaster
State
California
Loan Details
Purchase price
$230,000
Down payment
$25,000
Cost of improvements
$125,000
Estimated property value after repairs
$507,500
Additional Loan Information
This is an REO SFR (pool home with 2023 (new) paid off solar) in Lancaster, CA. Lender/Owner is Freddie Mac. House was last purchased 2024 for $500,000. Last known renovation 2019. Former owner was 69 years old. Lender has been sitting with non-performing loan and/or property approx total 2 years. Available at auction. I'd like to start offer at $175,000 with a max of $230,000. Exterior/visible needs cosmetic/refresh only. Windows and clay tile roof intact. Present condition of interior unknown. Max reno/cushion budget $125,000 @50.00/sq plus. Property listed as possibly occupied- but visual inspection discounts the possibility. Based on due diligence, $125,000 represents likely "worst case" scenario. Preliminarily, there appear to be no other liens or equity encumrances other than the Freddie Mac 1st.
Status
Created
June 8, 2026 - 12:25pm

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