|Type||No Rehab/No Construction|
|Underlying Asset||Single Family|
|Underlying Security||1st Position|
Fund That Flip closed the loan on this property on October 18, 2021. Your investment will begin accruing interest on the day it clears escrow.
Fund That Flip has provided a first distribution of $295,461 to the developer at closing for a loan to purchase of 78.8%. Fund That Flip is holding back $1,040 for 1 month of pre-paid interest. This is for the stub month of August.
The borrower will not be executing any construction on this property. They will immediately try and sell the property.
Over the course of the project, the developer will contribute an estimated $81,080 in equity, including an estimated $79,540 at the time of closing. The total loan-to-ARV is 75.2%. There is no pre-payment penalty for this loan. 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.