Recently Funded Fix & Flip Loan In Dallas, Texas

Loan Scenario:

This fix and flip loan involves a cash-out refinance for a detached duplex in Dallas, Texas. Here, the home appraised at $250,000 with a rehab budget of $153,000. So, AHL funded $276,500 as a True Zero Point Loan with a 12-month interest only term. As a result, the LTC comes in at 68.61% and the LTARV at 70.00%. Because of this, the finished duplex is set to reach an After Repair Value (ARV) of $395,000.

The borrower is a newer investor taking on a full gut rehab of both units. First, the scope starts with demo and tear-off of the old siding. Then, new framing goes in along with wiring, plumbing, and HVAC. Next, the outside gets painted hardy board siding and a new roof. Also, new double-pane windows go in on both units. From there, the inside gets new sheetrock, mid-grade LVP floors, and fresh paint.

Besides, each unit gets quartz counters, new cabinets, and bath tile. Last, both sides will have open layouts with three bedrooms, one bath, and stacked washers and dryers.

Dallas still draws investor interest in the Oak Cliff and Bishop Arts areas. Indeed, redone duplexes here see steady rental demand and limited supply. As a result, a fully redone two-unit home sits well in this market.

In short, this deal shows how AHL supports newer investors on larger rehab projects. In fact, the True Zero Point Loan removes upfront points from the deal. Also, the 12-month term gives the borrower room to finish a full duplex rehab while keeping costs in check.