Fix and Flip - Ferndale, MI

Location: Ferndale, MI.
Borrower Profile: Repeat Client and Experienced Rehabber.
Work Description: Fix and Flip.
Purchase Price: $70,000.
Loan Amount: $55,000.
Loan Structure: 6 Months, Principal and Interest Payments on a 10 Year Amortization Schedule.
Situation: This hoarder house has a lot of potential. Our client was able to get the property under contract for $70k and will flip it after giving it a good rehab.