Recently Funded Fix And Flip Loan In Saint Petersburg, FL

Loan Scenario:

This fix-and-flip project involves a single-family home located in Saint Petersburg, Florida. The property was purchased for $315,000 with a comprehensive rehab budget of $46,450, focusing on significant renovations to enhance its value. The total loan amount secured for this project is $346,500, resulting in a Loan-to-Cost (LTC) ratio of 96% and a Loan-to-After Repair Value (LTARV) of 70%.

The after-repair value (ARV) of the property is projected at $495,000, reflecting the extensive improvements planned. The renovation scope includes replacing all windows, adding two new bathrooms, and completely remodeling the kitchen. Furthermore, both the interior and exterior will receive fresh paint, enhancing curb appeal and creating a modern living environment.

Additional improvements include updating the plumbing and electrical systems, drywall installation, and new flooring. The budget also covers the purchase of kitchen cabinets, countertops, and appliances, as well as landscaping enhancements to improve the property’s outdoor space.

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