Raising $35k In short: Need $35,000 to gap fund a real estate deal.
AS-IS amount: $145,000 (private funding secured @ 85% LTC)
Rehab budget: $30,000 (private funding secured @ 100% financing)
After Repair Value: $230,000
Required Cash to close: $35,000 (gap funding required)
In long: I have a 1,500 square foot townhouse with a golf course view near Perdido Key under contract. AS-IS cost is $145k, requiring about $30k in repairs to bring it to an after-repair value (ARV) of $230K. Approximate closing cost and fees $10k. Strategy for this deal is the
BRRRR method.
Buy (mid-September),
Rehab (October),
Rent (November),
Refinance (December 2024) to payoff
ALL initial funding (including YOU), then
Repeat it all again on the next project. Requesting approximately
$35k which would be required to gap fund this deal. Bring your terms! Thanks in advance!
Eric J
U.S. Navy (Ret.)
[email protected]