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New Orleans, LA – Fix and Flip
An experienced New Orleans flipper found a three-bedroom, two-bathroom brick home available at a significant discount. The Orleans parish home needed updates but was structurally sound, making it an ideal light rehab flip opportunity.
By the Numbers:
$111,847
Loan Amount
$95,000
Purchase Price
$29,275
Rehab Budget
$185,000
Appraised Value
60%
Loan to Value
The Opportunity
An experienced New Orleans flipper found a three-bedroom, two-bathroom brick home available at a significant discount. The Orleans parish home needed updates but was structurally sound, making it an ideal light rehab flip opportunity.
The flipper had a quality pound for a profitable flip, and she reached out to Lima One for financing as she had on multiple flips over four years.
The Solution
Lima One maximized loan-to-cost leverage at 90% on the $112K loan, giving the flipper credit for the under-market price deal she had found. This led to 60% loan to value leverage, which still left plenty of profit for the investor after rehab was complete.
Lima One’s financing allowed this flipper to benefit and make money on the buy she had made. This loan, her fourth with Lima One, empowered her to complete another flip and continue growing her business.
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