Case Study: Fix & Flip Renovation
Fix and Flip Renovation – Stoughton, MA
Property: This two-bedroom one bath cape style home had been abandoned by its prior owner and sat empty for several years through the foreclosure process. It was acquired in November of 2017. Renovations included a shed dormer, roofing, windows, siding, and conversion to a three-bedroom two bath home. The inside was completely updated including new kitchen, new baths, new flooring and complete refurbish. The new owners moved in in July 2018.
Rehabber/Borrower: The project was done by one of our successful repeat customers. He has done many rehab projects with us and brings with him the talents and pride in workmanship to the rehab. The transaction was done through the Turner Investments Partnership Program.
Purchase Price
$201,000
Construction Costs
$132,000
Loan Amount
$340,000
Resale Price
$450,000
Loan to ARV
75%
Interest Rate
12%