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FixNFlip

Savannah, GA - Fix and Flip

Lima One funded a fix and flip loan on a Savannah, Georgia, home to help seasoned investors maximize their profit.

By the Numbers:

$805,250

Loan Amount

$712,500

Purchase Price

$164,000

Rehab Budget

92%

Loan to Cost Leverage

$1.1M

Appraised After-Repair Value

73%

Loan to After Repair Value Leverage

The Opportunity

Seasoned investors found a Savannah, Georgia, home that had been sitting on the market for nine months. The home, built in 1995, needed cosmetic rehab to meet market demand, but was in good structural shape.

Thanks to strong negotiating skills, the investors purchased the home for $200K under the original asking price. They looked for the right financing to help them profit from buying right on this property.

The Solution

Lima One offered the investors blended loan to cost leverage of 92%, at a low interest-only rate that gave the investors credit for their vast experience. Plus, Lima One did not charge interest on undrawn rehab funds, while handling all draws in house.

This approach to financing gave the investors low cost of funds that allows them to build on their smart property purchase and maximize profit on the flip.