Case studies
Two Unit Flip
Flipper with moderate experience and fairly good credit purchased a 2 Unit for $770,000 in St Petersburg with 60,000 in rehab costs - $830,000 total cost
- 85% x 830,000 = $705,500 max loan amount (can go up to 90% w/deep experience)
- $60,000 Rehab is escrowed
- Total Loan $705,500 less $60,000 = $645,500 applied to purchase price of $770,000
- Loan-to-Value = 83.8%
- Financing Terms: 12 months / Interest only / 10.9% / 2 points
- Required Documentation:
- Purchase Contract
- Rehab Budget
- Last 2 Bank Statements
- Property Insurance
- Driver’s License
- LLC / Entity Docs (if in LLC)
Loan closed in 4 days
Developer sold property for 919,000 earning a gross profit of $89,000
Business Loan
Owners of a private aviation company were in dire need of financing to take out pre-existing financing of $475,000 that contained onerous terms that were suffocating the company and hampering growth.
EXC collected an application and last 6 months bank statements and arranged for financing of $600,000 - Loan closed in eight days start to finish
Terms: P+1 / 3% Fees / 4 year term / Fully amortized
Private Money 48 Hour Cash Out
Atlanta-based investment property owner needed a quick cash out.. With NO Credit Check & only a rush title report on the property and virtual walkthrough, borrower was wired funds in 48 hours.
Terms: $342,500 loan / 6 mo term / 10.9% w/2pts / No monthly payments / 50% LTV