Case Study - Welby Fix n Flip
/
After
This property was purchased at the end of June 2018 for $195k by an experienced flipper. This borrower requested a hard money loan amount of $180k. Rehab for the property was $35k. The flip took 4 months.
Basics
Source - Referral to Borrower
Status - Estate
Condition - Poor / Hoarder Home / Arson Property - see below before picture
full gut - during construction photo
Obstacles
Title took a good deal of time to close because several deceased persons were on title. All parties of the transaction had to be patient to await clean title from seller’s representatives.
Gas and Electric had been off at the home for a significant amount of time that Xcel required the borrower to obtain new service as if the home was newly constructed. This line item was over budget as that was unforeseen for the borrower.
before
condition at time of purchase - hoarder home
