|DATE OF FUNDING||7-3-2019|
|GROSS LOAN AMOUNT||$227,800|
|LOAN TO VALUE||53.6%|
|NET NOTE RATE||8.85%|
|TERM OF INVESTMENT||12-months|
$227,800 FOR THE PURCHASE OF A NON-OWNER OCCUPIED SINGLE-FAMILY RESIDENCE IN PHILADELPHIA, PA
The borrowers sought $227,800 for the acquisition of a non-owner occupied single-family residence in Philadelphia, Pennsylvania. The borrower acquired the property out of auction as a value-add purchase for improvement and sale. The property is a 4,566 square-foot home on 0.29 acres. The borrower’s exit strategy is to complete their planned improvements and then sell the property within the next six months.