
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
There are 50 records for fix-and-flip lenders operating in Sylacauga, AL. Note amounts average approximately $289,500. Interest rates for hard money loans average 10.7%. The average loan made in this city has a length of 19 months. The mean origination fee added to loans is 2.3%. Lenders in Sylacauga average a 74% LTV on their loans.
Matthew takes a fix and flip loan from Deep Lake Investment Group in order to remodel a townhouse to resale in the Mignon area of Sylacauga, AL. The list price of the house is $380,000. The lender agrees to issue a note with a 65% loan-to-value (LTV) so they are willing to extend $247,000 on the project. The loan also consists of these features: 1) a 6 month term, 2) a 14% interest only note, and 3) a four point origination charge.
On top of the $9,880 origination fee, Matthew will also have to fund $133,000 of the purchase with his own money, or 35% of the sales price. Deep Lake Investment Group will collect $2,882 in monthly interest from the borrower. This is calculated by taking the total loan amount of $247,000, multiplying by the 14% rate of interest, and then dividing that number by 12. Assuming Matthew sells the rehabed house for $456,000 at the end of the 6 month term, his gross profit (not including renovation expenses) would be $48,830. This is calculated by taking the purchase price ($456,000) and subtracting the principle ($247,000), the origination cost ($9,880), the cash he brought to closing ($133,000), and the total interest expenses ($17,290).
Terrie takes out a hard money loan from Prosperity Lending Group in order to remodel a property to flip in the Mignon neighborhood of Sylacauga, AL. The deal has the following terms:
a) A $230,000 sales price, b) a 80% loan to value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 4% origination fee.
Assuming a $322,000 sales price at the end of the 12 month term, the final numbers for this deal would look like the following:
$322,000 sales price
- $184,000 note principle (80% LTV)
- $46,000 cash paid at closing (20% on 80% LTV)
- $7,360 origination fee (4% of the $184,000 principle)
- $14,720 total interest paid (12 months x 8% interest)
-----------------------
= $69,920 total profit (doesn't include taxes or rehab costs)
Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing in Commercial loans, Adaptive Re-use & Construction lines of credit nationwide!
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Global Capital Partners Fund is a Direct Bridge & Hard Money Lender with over 30 years of experience. Specializing nationwide in commercial loans, adaptive re-use, construction lines of credit, ground up construction, fix & flip, & more!
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