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Fix and Flip – Derry, NH

Lima One Capital financed this New Hampshire fix and flip to help a broker and his investor client scale their businesses.

By the Numbers:

$401,145

Loan Amount

$370,000

Sale Price

$86,645

Rehab Budget

88%

Loan to Cost Leverage

$574,000

Appraised After-Repair Value

70%

Loan to After-Repair Value Leverage

The Opportunity

An investor looking to start his second flip found a foreclosed single-family home in Derry, New Hampshire, available for sale. The investor negotiated a favorable purchase price and worked with a broker to find financing for the flip.

The broker investigated options and found that Lima One’s fix and flip loans offered the best cost of funds and speed to close for his client. So he decided to bring a loan to Lima One for the first time.

The Solution

Lima One offered 88% loan to cost leverage on the 13-month fix and flip loan, including 100% financing on the $86,845 rehab budget. This leverage empowered the investor to purchase the foreclosed property and immediately start on rehab.

With an appraised after-repair value of $574,000, the fix and flip project gives the investor significant profit potential in the six figures. The combination of buying at the right price and getting reliable financing from Lima One sets this investor up for success while helping the broker close a successful deal.