Recently Funded Fix And Flip Loan In Medford, NY

Loan Scenario:

This fix-and-flip project involves a single-family detached home located in Medford, New York. The property was purchased for $300,000, with a modest rehab budget of $5,000. The total loan amount secured for this project is $301,000, resulting in a Loan-to-Cost (LTC) ratio of 99% and a Loan-to-After Repair Value (LTARV) of 70%.

The as-is value of the property is assessed at $425,000, indicating that the investor is purchasing the property well below market value. The planned renovations are minimal, focusing on essential updates, including extensive cleaning and full interior and exterior painting.

These improvements are designed to enhance the overall appeal of the property without significant structural changes, making the project efficient and cost-effective.

Medford’s real estate market is characterized by steady demand, with recent trends showing a median home price of around $410,000. This robust market dynamic provides a favorable backdrop for the investor to capitalize on the potential appreciation following the renovations.

The professional investor will utilize the financing to cover all costs associated with these improvements, ensuring a quick turnaround. By executing these strategic updates, the project aims to maximize returns while significantly enhancing the property’s marketability in the competitive Medford real estate landscape.