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Philadelphia PA New Construction

Address: Philadelphia, PA
Borrower Profile: Experienced Investor
Work Description: Tear Down and New Construction
Purchase Price: $500,000
Renovation Budget: $578,000
Loan Amount: $925,000
Cash Available for Purchase: $322,000
Cash Available for Renovation: $578,000 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase and New Construction
ARV: $1,380,000
Sale Price: $1,409,500
Time To Pay Off: 13 months
Situation:

Believe it or not, this property was first purchased as a community church and transformed into three beautiful townhomes. Our investors took out a hard money loan to fund the purchase of this property and the construction of three out of the five residences. In order to complete this new construction project, after gathering all necessary permits, a full interior demolition and exterior redesign was performed. Next, our investors installed brand new piping systems, gas and water lines, electrical systems and any necessary connections followed by the framework for each three bedroom, two and a half bath unit. Moving forward, all new windows, interior and exterior doors, drywall and wood flooring were added to each unit. Our investors completed their build with new cabinets, granite countertops, stainless steel appliances, fresh neutral paint, tiled bathrooms and ample closet space. Not only were each of these townhomes beautiful – a balcony, private yard and designated parking space were added for each unit, undeniably giving these homes the “WOW” factor!

Outcome:

Philadelphia hard money loans for fix and flips
New Build - Kitchen
New Build - Interior
Private hard money lender in Philadelphia
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Philadelphia private lender for fix and flips
New Build - Roof
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