PROPERTY:

Taplow St, Baltimore, MD 21212

LOAN OVERVIEW:

The borrower is requesting a hard money loan to acquire a discounted investment property. The property is being purchased under market value for $295,000 and needs rehab work (around $51,000  for a new kitchen and 2 bathroom upgrades, paint and redo some flooring). The Borrower is putting up about $145K+ of their own cash.  The borrower is strong with a 750 credit score and experience flipping properties.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $235,000 1st Mortgage
Value of Subject Property: $500,000
Loan to Value: 47%
Term requested: 12 Month Balloon
Investor return: 12%
Exit Strategy: Resell property
Credit Score 750


HARD MONEY BANKERS COMMENTS:

The pros are:

The lender will have good collateral on an investment property in a very good area of Baltimore. The borrower have strong credit, good assets and experience. The Borrowers will be contributing about $145K+ into this deal.

The cons are:

The Borrowers exit strategy of selling could take longer than expected in this market.