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Updated over 8 years ago,

User Stats

115
Posts
10
Votes
Paris Wilson
  • Investor
  • Gwynn Oak, MD
10
Votes |
115
Posts

NEED FUNDING IMMEDIATELY!!

Paris Wilson
  • Investor
  • Gwynn Oak, MD
Posted

Hello BP I needs some help with this, my buyer put a house under contract and close in 9 days, now his Private Lender ran out of funding and won't be able to have available funding for two weeks. This means we will lose the property, because Asset Manager will not allow any extension. What should i do? I need some advice. 

Particulars:

Property located in Baltimore, MD. He needs 90% funding for acquistion and rehab, he will put down 10% plus closing costs. Can anyone help with a lender.

PURCHASE/REHAB ASSUMPTIONS
% of ARV 55%
After-Repair Value (ARV)190,000.00
Purchase Price (Offer Price)60,000.0031.58%
Rehab Costs40,000.0021.05%
Total Holding and Closing Costs5,000.002.63%
Total Financing Costs0.000.00%
Total Project Cost Basis105,000.0055.26%
Total Amount Financed0.00
Total Cash Commited105,000.00
PROJECTED RESULTS
Projected Resale Price170,000.00
Projected Cost of Sale10,200.00
Flip Profit54,800.00
ROI52.19%
Annualized ROI156.57%
Timeline Assumptions
Time to Complete Rehab2 Months
Time to Complete Sale  = 1 month
Total Time3 Month 

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