Status: Repaid

Annual Return Term Remaining
8.75% -
Loan to ARV
Investment Offering
Min. Investment
6 mo.
Underlying Asset
Single Family
Personal Guarantee
Underlying Security
1st Position

This offering is fully funded

Indian Trail, NC



  • 03/07/22

    Fund that Flip is pleased to inform you that the loan has been paid off. The Payoff Date is 02/25/2022.

    You will receive the following payments related to this payoff: February 2022 Partial Normal Interest, 1 Late Fee, and Principal.

    You can expect to see these funds deposited in your bank account within 5-8 business days. In addition, these payments will be view-able from your investor dashboard.

  • 01/03/22

    Fund That Flip is pleased to inform you that a past due interest payment on this loan has been received and is being scheduled for payment to investors.

    You can expect to see the funds deposited in your account within 3-5 business days.

    Investors will be updated as further developments occur.

  • 12/17/21

    The monthly interest payment for November has not yet been received.

    A late fee has been assessed and will be distributed according to the investor’s pro-rata share of the investment, upon payoff.

    Fund That Flip will continue to monitor this situation closely and investors will be notified as further developments occur.

Investment Summary

Type No Rehab/No Construction
Underlying Asset Single Family
Underlying Security 1st Position
Guarantee Personal Guarantee

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.

Use of Proceeds

  Cost Use of Proceeds % of Loan
At close $375,000 $295,461 99.5%
Purch. $375,000 $295,461 99.5%
Construction Draw at Close $0 $0 0.0%
Remaining Construction/Rehab $1 $0 0.0%
Prepaid Int $1,040 $1,040 0.4%
Closing $500 $500 0.2%
Total $376,541 $297,000 100.0%

Loan to Cost

  Cost Amount Disbursed Borrower Contribution Loan to Cost
At close $375,000 $295,461 $79,540 78.8%
Purch. $375,000 $295,461 $79,540 78.8%
Construction Draw at Close $0 $0 $0
Remaining Construction/Rehab $1 $0 $1 0.0%
Prepaid Int $1,040 $0 $1,040 0.0%
Closing $500 $500 $500 100.0%
Total $376,541 $295,961 $81,080 78.6%


Valuation Method Estimated Value Amount Distributed LTV
Purchase Price $375,000 $295,461 78.8%
FTF Valuation: $395,000 $297,000 75.2%

Fund That Flip’s Internal Underwriters use industry standard valuation software, independent real estate data, and internal proprietary modeling to estimate the expected After Repair Value of the property.

Fund That Flip develops an internal valuation on all projects using an automated valuation model (AVM), which estimates real estate property valuations using mathematical modeling, combined with a database of real estate information for comparable properties. The comparable properties in the analysis are within .3 miles of the subject, have a similar number of bedrooms, bathrooms, and square footage, and are of similar home style.

The internal valuation of $395,000 on the property is supported by the following data points:
• 3 comparable properties have recently sold between $340,000 and $395,000.
• Price per square foot of these comparable properties ranges from $150 to $161.
• Our internal valuation yielded a price per square foot of $151.

Fund That Flip used the FTF internal valuation when making the final decision to fund this project.

About the Property


Bedrooms 4
Full Bathrooms 2
Year Built 2007
Square Footage 2611 SF
Garage Spaces 2
Purchase Price $375,000
Estimated Rehab Budget $1
ARV $395,000
Developer Equity $81,080 plus closing & holding costs

Market Overview

• Indian Trail is a city in Union County, NC

    • 20 miles to downtown Charlotte, NC
    • 20 miles to the University of North Carolina Charlotte
    • 28 miles to Charlotte Douglas International Airport

• Retail Sales Sold: 97%
• Short Sales Sold: 0%
• REO Sold: 3%

  • data acquired from internal sources.

Project Strategy

The developer bought this property with financing from Fund That Flip on October 18, 2021. Your investment will begin accruing interest the day it clears escrow.

The borrower will not be executing any construction on this property. They will immediately try and sell the property.


Having a thorough understanding of the risks of each investment in your portfolio is important prior to making an investment. Fund That Flip encourages you to do full due diligence on each deal and consult your investment, tax and legal advisors prior to investing.

The market value of the property drops significantly removing opportunity for the developer to make a profit.

Mitigating Factor:
The property is located in a stable market and was purchased at a discount providing downside protection in a falling-price environment.

The developer chooses not to complete the project.

Mitigating Factors:
• The developer has considerable equity in the project and the LTV on an ARV basis is 75.2%.
• Fund That Flip holds a first position lien on the property and the partner has personally guaranteed the loan.

The developer is unable to complete the project in the allotted 6 month period.

Mitigating Factor:
Fund That Flip has built in a 3 month optional extension, approved only if project is advancing at a satisfactory pace. Extension corresponds with an additional fee to be shared on a pro-rata basis with investors.

A more complete list of risks for this investment is provided in the Investor Offering Materials and should be read and reviewed with your investment, tax and legal advisors.