3205 SHEPHERD ST

MT RAINIER, MD 20712

This is a property that came to us as a referral from a friend whose mother was behind on her mortgage. Apparently, her son was staying in the property and lost his job and was no longer paying rent. We were able to catch her up on her mortgage and take title to the property subject to the existing mortgage. We then acquired a private renovation loan for construction in order to update the property and make necessary repairs. Little did we know that the local school was going to dump several thousand gallons of water in our backyard and flood the house. After installing an interior and exterior water proofing system and fully renovating, we were able to sell the house to a wonderful family.

DEAL SUMMARY

PROJECT SUMMARY

BEFORE:

Purchase Price:

Closing Cost:

Points to Lender:

Repair Costs:

Loan Amount:

Total Mortgage Interest Paid:

Sale Price:

Project Term:

Total ROI to Investor:

Loan to Value (Risk):

$228,843

$15,908

$3,600

$120,000

$120,000

$18,000

$458,000

12 Months

18%

26%

AFTER:

CONTACT US

(301) 795-4272

8855 Annapolis Rd, Suite 201

Lanham, MD 20706

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