Recently Funded Fix And Flip Loan In Atco, NJ

Loan Scenario:

This fix-and-flip project involves a single-family detached home located in Atco, New Jersey. The property was purchased for $235,000, with a comprehensive rehab budget of $75,100. The total loan amount secured for this project is $179,090, resulting in a Loan-to-Cost (LTC) ratio of 90% and a Loan-to-After Repair Value (LTARV) of 70%.

The after-repair value (ARV) of the property is projected at $400,000, indicating substantial potential for profit. The planned renovations include a complete remodel that focuses on both the kitchen and bathroom, as well as essential upgrades to the roofing, HVAC system, and flooring.

Specific improvements will include:

• Installation of a new roof and HVAC system
• Upgrading the kitchen with new appliances and granite countertops
• Remodeling the bathrooms, including new toilets, vanities, mirrors, and ventilation fans
• Replacement of flooring throughout the home
• Painting the interior, including drywall and trim updates
• Landscaping improvements and general cleanup of the exterior

The Atco real estate market is showing positive trends, with median home prices in the area steadily increasing. Recent market data indicates that the median home price is around $270,000, providing a favorable environment for investment and potential appreciation following the renovations.

The experienced investor will utilize the financing to cover all hard costs associated with these renovations, ensuring a thorough transformation of the property. By executing these strategic improvements, the project aims to maximize returns while significantly enhancing the overall value and marketability of the home in the competitive Atco real estate market.