Dudley MA SFR Deal Under Contract

[Richard Cole]

Hi BP Community,

Our offer was accepted on this deal. https://www.redfin.com/MA/Dudley/22-Aldea-Ave-0157...

Are you or is anyone you know interested in this opportunity for a first or second lien position stake?

• Purchase Price: $140,800
• Rehab with 25% contingency: $85,000
• ARV: $280,000
• Timeline 6 months

Opportunity details:

• 12m term with balloon
• 2 points
• 9% interest only, accruing or monthly interest on funds used
• 1st lien position: 100% rehab and acquisition, total loan amount: $225,800
• 12 month possible point and interest payout on total loan amount: $24,838

OR

• 12m term with balloon
• 2 points
• 10% interest only, accruing or monthly interest on funds used
• 2nd lien position: Loan of $42,240 down and 3 rehab draws not in arrears of $85,000, total loan amount: $127,240
• 12 month possible point and interest payout on total loan amount: $15,268.80

Our team has a track record for this property type in this area. Our last deal had 6 offers in the first 3 hours and sold for over ask. We have strong rapport with the local building departments as well. We have access to other sources of financing, but want to connect with more local lenders. No harm is meant by this post. 

We'll go farther, together. Thanks for your time.