Fix and flipping SFRs in Phoenix, AZ market for 4 years and national wholesaling. I have successfully completed 13 remodeled houses in the Phoenix area.
I am interested in getting a gap money loan of $30,000 to 50,000 for a flip I am completing but would like to get some additional funding to get it 100% complete and list it on the MLS.
It could be a 2nd position lien for a SFH near downtown Phoenix with an ARV of $645,000, address is 3021 N Randolph Rd, Phoenix, AZ 85014. The 1st position loan is $455,000. No other leins on the property. All permits are current and inspections passed. Just needs trim, baseboards, counters, sinks, and a pool fence and some clean up. Total time to complete 30 days then it goes on the MLS. Time on market is expected to be 30 to 90 days and then 30 days for closing. I am open to offers but I can work with $ 30,000 advance and pay back $33,000 within 9 months or when the house sells whichever happens first. I could also pay monthly interest at 12% APR. I am open to negotiate the terms. Below is a link to purchse docs along with costs of what has been done to date and also estimated cost of what needs to be done to get it complete.
https://drive.google.com/drive/folders/1fD4Qlgp5ozlQJcxNz8pTArkBpJWsiOBD?usp=drive_link