NJ, Investment Property (Residential), Purchase, $131K, FICO, 70% LTV
Posted on 8/9/2016 11:08:50 AM
I've got a deal in NJ that I need to get funded.
We are trying to close in a week. Can you help?
This borrower has $80K in the bank. Has done 3 flips and has 2 other homes listed for sale.
Has a felony of 2 years.
Has NSF fees from the past 30 days. He sold a home that gave him the 150K. Got in a cash crunch until a home sold.
He lives in WA state and doing flips in NJ. Out of state borrower.
Credit score is about 620
Homes are simi- rural.
Let me know if you have any interest in these deals.
Deal 1: 2 Highview Rd Fredon NJ 07860 "Loan
Type" Fix and flip
Purchase Price" $124,500
Rehab Estimate" $39,000
ARV "Estimated $239,000
Loan Amount" $130,800
Estimated Total Cash To Close Down + Reserves" $53,180
"Projected Profit" $44,580