Sweet St

Overview

The location is in Southlake, a prime location for luxury developments and strong comps supporting the $ per square foot exit. We underwrote $560 sq ft conservatively on a 5700 sq. ft house. How we'd prefer this opportunity to go. - Investor Purchases the lot, pays for tear down, plans, and city permits. All of this will be recouped at the close of the construction loan. - If you'd like to put debt on the lot, no problem, but we don't pay. interest or split interest payments before the close of the construction loan.

Property details

Purchase price

$720,000

As-is value

$720,000

Rehab costs

$1,425,000

After repair value

$3,200,000

Borrower cash in deal

$0