A top tier Line of Credit borrower sought a $227.7k loan for a purchase and rehab property in Raleigh, NC. The borrower chose to fund with DLP Lending because of our speed to close, relationship-first approach, and expertise in the space. The borrower has done 22 flips in just the past 3 years.
With a purchase price of $198K, this 4 bed, 2 bath property underwent significant renovations, including: mechanical upgrades, new flooring, new kitchen and bathroom cabinets and appliances, new roof, electrical upgrades, and exterior renovations.
The Property
- Located in Raleigh, NC
- Single family residence
- 4 bedrooms, 2 bathrooms
The Loan
- Loan Type: Fix & Flip
- Loan Amount: $227,758
- LTC: 85%
- Interest Rate: 11.49%
- Length of Loan: 6 months
- Exit Strategy: Sell
Before Renovations
After Renovations
