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Fix&Flip – 2nd Lien Pos – 90K Needed -Close 9/13/22

Front,Bedroom 1,Kitchen,Back of House,Air Conditioner 1,Master Bed,Master Bath,Pool,ADU Kitchen View,Back Yard,

Hello! We are in need of a PML asap! We currently have a deal under contract and we are looking for a PML for part of the $$. We are in need of 90k. We close on Tuesday 9/13. Here are the details (I can send more via email):

– SFR 5/3, 3444 sq ft, pool, with 1200 sq ft unit in the back that contains a kitchen and toilet
– Lot Size: 37,812
-Location: Keller Texas – "A" Neighborhood with Top Rated Schools. Keller ISD is an A Grade ranked #15 school district in the DFW area and #42 in state of Texas. Carrol ISD 2 miles away is ranked #4 in DFW and #4 in the state.
– Purchase price: 545k
– Rehab: 175 (our contractor quoted us at 125k, gave us a frequent customer discount) but HML wants us to keep budget at 175k.
– Rehab time: 2 – 2.5 months
– Appraised at 900k with ADU as is and not built out – Real Estate Agent is confident we can get 1M if we build out ADU and rehab house to local comps
-Business Plan: Rehab current house with no wall removals. Remodeling Kitchen, Baths, New Floors, Paint. Roof is 2 Years old and HVAC is less than 5 years old. Pool equipment is good and pool is in good shape. ADU will need build out to add a shower and wall for 1 Bedroom.
– HML Loan 630
– We have 20k for closing costs
– Need: 90k
– Terms: 2nd Lien position 3% points, 12.99% interest or higher
– Time Frame: 6 months or Less
-Appraisal Report: Attached

Thank you!

Property Information

1009 Oakwood Drive Keller Texas 76248
Property Type
Single Family Home
Year Built
Building Square Footage
Lot Square Footage


Estimated Repairs
After Repair Value
Total Investment


Author Info

Christine Sario-Valdes

Member since 3 months ago
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Fix&Flip – 2nd Lien Pos – 90K Needed -Close 9/13/22 0 reviews

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