Purchase and Flip / Cross Collateral financing
4 Bedrooms / 2 Bathrooms; 1,796 Sq. Ft.
The purchase price for the subject property the borrower bought was $713,000.
He cross collateralized another investment property to increase his loan amount requiring only $63,000 out of pocket for his acquisition.
Borrower will be updating subject property and selling. Proceeds from the sale will be used to pay off our loan in full.