Looking for private money lender for fix and flip.
Address: 319 E Lincoln St Tucson Arizona
20% Simple interest ROI for PML.
COE: March 11, 2024
Term: 5 months
Basic information about the deal structure:
● PML 1st lien position Without Using Hard Money: $215,413.00 PML funding with return of $10,770.66 flat fee of simple interest of 3 months. Month 4 and 5 simple interest rate at 20% with term ending at 5 months. At month 5 PML makes $17,951.08.
● PML 2nd lien position With Using Hard Money: $84,675.00 PML funding with return of $4,233.75 flat fee of simple interest of 3 months. Month 4 and 5 simple interest rate at 20% with term ending at 5 months. At month 5 PML makes $7,056.25.
● PML paid upon sale of property listed on MLS after renovations completed.
– PML protected with lenders policy and 1st lien without hard money used or 2nd lien position using hard money.
Borrower has previous fix and flip experience broken down in the deal breakdown sheet (pitch deck).
pml deal breakdown sheet:
https://drive.google.com/file/d/14AuZIeqL16Mp0moaAVeYpcLb54SQfzqb/view?usp=drivesdk
Text Emmanuel Montano:
520-409-1631
email:
emmanuel@integrationlinear.com
Hi,
I have a question, and sorry if it is basic, I’m new to this forum.
Why are you using comps that are 300 SqFt to 1,000 SqFt larger than your subject house?
If I’m reading it correctly, your subject house might be 1008 SqFt. Propstream has it at 875 SqFt.
Either way, that would be about a 2-bed 1 and 1/2 bath. It’s listed as 3/2. OK
When I run comps I come out with an ARV of around $215K
I read the Contractor Bid and Calculations. The bid is for normal low-end rehab, not adding any square footage.
Great question. The total square footage is approximately 1300 square feet including the bonus room. The bonus room renovation should be changed to a bedroom as well as using the large lot in front to sell blueprints for a container home as the land is zoned R2 and allows for another dwelling to be built there including making the property a duplex if you want.
If you’d like to talk directly to the fix and flip specialist who’s taking on the project please contact kirk dunbar at +1 (602) 737-4185. Thanks for such a detailed response kevin! due diligence is always important
So the plan is to make the 3 bed 2 bath into a 4 bed 2 bath, which is why the comps are 4 bed 2 bath. The property has 4 rooms and converting the bonus room is the strategy along with utilizing the R2 zoning to sell blueprints for another dwelling on property
also very important to know. Bonus room was not included in square footage of property so that’s where the 1300 square feet comes from