Private Loan Program

Short-Term Investment Loan  

Case Study Norfolk House

Terms

  • Term of 12 months or less

  • 12% Interest only monthly payments

  •  3 month minimum Interest payments 

 

Security

  • All Loans are First Position

  • Lenders Title Policy paid by borrower

  • Hazard Insurance with Lender Named as “Additional Insured” 

  • Attorney drafted Note and Deed of Trust recorded with the County

  • Closing at a Title Company

 

Process

  • We email Investor with rough details about transaction to gauge interest/ability to fund (Loan amount date etc)

  • If investor is interested, we send Property analysis with, rehab budget, tax data, comps, photos, loan details, etc

  • If Investor would like to move forward, we send info to attorney to draft docs for review

  • Investor can review Docs, Title Commitment, Insurance, etc

  • Investor Wires money to Title Company for Closing

  • Investor receives monthly payments by transfer or check

  • Once property is fixed and sold, the Title Company will wire the loan amount back to the Investor.

 

Case Study - 3001 Norfolk Dr.  Austin, TX. 78745

 

  • Purchase price                                                                 $329,000.00 

  • Repair Funds                                                                      $70,000.00

  • Total Loan amount                                                          $399,000.00

  • Sale Price                                                                          $604,000.00

  • Loan to After Repaired Value Ratio                                          66%

  • Monthly Interest only payments (12%)                            $3,990.00

 

Purchase date: July 2,2020

Sold date: January 14, 2021

Total Interest paid    $25,484.52

Norfolk House
Contact Us about
Investment Opportunties