|Type||No Rehab/No Construction|
|Underlying Asset||Single Family|
|Underlying Security||1st Position|
|Guarantee||Personal Guarantee x2|
Fund That Flip closed the loan on this property on March 11, 2021. Your investment will begin accruing interest on the day it clears escrow.
Fund That Flip has provided a first distribution of $94,843 to the developers at closing . Fund That Flip is holding back $3,617 for 3 months of pre-paid interest.
The construction budget was $61,286. The property is complete and listed. Fund That Flip financed $47,068 of the total construction budget.
Over the course of the project, the developers will contribute an estimated $52,818 in equity, including an estimated $31,443 at the time of closing. The total loan-to-ARV is 68.0%. There is a 3 month pre-payment penalty, meaning investors will earn interest through June 11, 2021, even if paid back earlier. The term of the underlying loan is 6 months with an option to extend. Should Fund That Flip choose to grant the extension(s), half of the extension fee(s) collected will be distributed to investors upon receipt.