Philadelphia, PA · Member since 2016 · 11 posts · 0 votes
Hello all,
Seeking private money for cashing out partner in a newly rehabbed duplex in Philadelphia 19111 area. We bought the property in Feb 2018 from the sheriff sale for 162k$. It is a corner property with a very nice front and back yard. The rehab is completed and both units will be leased out by the end of July 2018.
The first floor unit was in good condition and did not need much work. The second floor was a total gut and including the common area, sun room / patio and landscaping work, the total rehab costs ~35k$.
The ARV is 280k$, recent comp of a sale around the block was 285k$, another one 6 months back for 279k$.
Looking for long term loan with max LTV possible (atleast 75% of ARV). The funds will be used to buy out my partner and to buy next property in North East Philadelphia area.
Happy to send before and after pics and provide necessary info to interested parties.
I might be able to help with this as well if you're still looking. We can do up to 80% LTV on a 30 year fixed rate cash out with the right credit scores. Let me know if you'd like more information!
I might be able to help with this as well if you're still looking. We can do up to 80% LTV on a 30 year fixed rate cash out with the right credit scores. Let me know if you'd like more information!