2191 Palmyra Rd SW, Warren, OH 44481

Overview

We are seeking $30,000 in project funding to acquire and prepare a residential property for our affordable homeownership program. The funds will primarily be used for the purchase of the property, closing costs, and any necessary repairs or improvements required to make the home ready for its next occupant. Our business model focuses on acquiring lower-cost residential properties in targeted Midwest markets and selling them through structured seller-financing arrangements. This allows us to provide an affordable path to homeownership while creating predictable long-term cash flow from the property. Funding Request Loan Amount: $30,000 Proposed Loan Terms Interest Rate: 12% annually Term: 60 months Monthly Payment: Approximately $667.33 Prepayment Penalty: None Collateral: First-position lien/mortgage on the property, when applicable Use of Funds The $30,000 will be used toward: Property acquisition Closing and title expenses Initial repairs or property preparation Other direct costs associated with placing the property into service Repayment Strategy Once the property is acquired and prepared, our goal is to place it with a qualified buyer through our established homeownership program. Monthly payments received from the property provide recurring cash flow that supports repayment of the loan. The project is structured around acquiring the property at a significant discount to its eventual financed sale price, providing additional collateral protection and equity within the transaction. Our objective is to create a straightforward, asset-backed investment with consistent monthly payments while continuing to expand our portfolio of affordable homeownership properties.

Property details

Purchase price

$25,000

Rehab costs

$0

After repair value

$65,000

Borrower cash in deal

$25,000

Square footage

864 sq ft

Year built

1958

Lot size

7,405