REO in Northside Westcliff Ave Richmond, VA 23222

Transcription

1 REO in Northside 3710 Westcliff Ave Richmond, VA 3 TO INSERT PIC HERE, CLICK WITH YOUR MOUSE INSIDE THIS BOX, THEN CLICK THE "INSERT PICS" BUTTON ON THE RIGHT AND SELECT THE PICTURE All-Brick cape in great location! Located in close proximity to VCU and MCV campuses Well-taken care of property with vinyl windows, hardwoods, fenced yard. Property needs HVAC and cosmetic improvementsw Opportunity for lender to earn great rate of return, secured by solid property! Exclusively Presented By: Evolve Acquisitions, LLC 30 Pump Rd #169 Richmond, VA xxxx daniil@rehabvaluator.com

2 Opportunity to earn a 0%+ Secured Return! Property Street Address: 3710 Westcliff Ave Presented By: Property City, State, Zip: Richmond, VA 3 Bedrooms: Evolve Acquisitions, LLC Baths: xxxx Square Feet: 1600 Year Built: 190 daniil@rehabvaluator.com PURCHASE/LOAN ASSUMPTIONS % of ARV Timeline Assumptions: After-Repair Value (ARV) $10, Purchase Price $57, % Time to Complete Rehab: Months Rehab Cost $7, % Time to Complete Sale: Months Total Loan Amount * $8, % Total Time: 6 Months * Total loan amount may include deferred and accrued interest and or/points Interest Rate Offered to Lender: 8.0% Profit Split to Lender: 5% Project Description: All-brick house in great shape! Previous owners took good care of this one. Fenced yard, tankless gas water heater, hardwood floors. There are full baths which will help resale value and appeal. Required work includes new HVAC, kitchen, baths, other cosmetics. Other Notes: Amount of short-term loan required equals 60% of projected "after-repair value" of the property, providing the private lender with a lot of cushion. Recent comps indicate a sale in the $130- $135k range. Private lender will get 1st deed of trust on the property and be paid at the time of sale PROJECTED FINANCIAL RESULTS FOR LENDER: Total Interest Income $3,88 Points, Fees $0 Profit Split $7,363 Total Income to Lender $10,651 Cash-on-Cash Return (annualized) 5.1% Internal Rate of Return (annualized) 9.99% no pic is available, then click inside this box and hit "delete" to delete this text. All-brick, solid structure! bedrooms, full baths!

3 CASH FLOWS TO LENDER REO in Northside 3710 Westcliff Ave Evolve Acquisitions, LLC Richmond, VA xxxx Interest Rate Offered to Lender: 8.00% Total Interest Income 3,88 Profit Split to Lender: 5.00% Points, Fees - Profit Split 7,363 Total Loan Amount: 8,500 Total 10,651 Cash-on-Cash Return (annual) 5.1% IRR (annualized) 9.99% Month Purchase (57,000) Rehab Draws (13,750) (13,750) Interest on Loan (Paid) Interest on Draws (Paid) Total Loan Balance (57,000) (70,750) (8,500) (8,500) (8,500) (8,500) (8,500) Payback of the Loan 8,500 Profit Split 7,363 Cashflows Out -57,000-13,750-13,750 Cashflows In ,6 Net -57,000-13,78-13, ,6 Rehab Draws Interest on Loan (Paid) Interest on Draws (Paid) Total Loan Balance Payback of the Loan Profit Split Cashflows Out Cashflows In Net Month Rehab Draws Interest on Loan (Paid) Interest on Draws (Paid) Total Loan Balance Payback of the Loan Profit Split Cashflows Out Cashflows In Net

4 Comparable Sales Report For 3710 Westcliff Ave Property Street Address: Property City, State, Zip: Bedrooms: Baths: Square Feet: Year Built: Address 808 Chamberlay Ave Main St Grace St North Ave 1605 Cliff Ave 905 nd Ave 311 th Ave 151 Northside Ave 3710 Westcliff Ave Richmond, VA 3 Presented By: Evolve Acquisitions, LLC xxxx daniil@rehabvaluator.com Beds Baths Sq Ft Date Sold 9/1/011 10/15/011 6//011 10/3/011 10/15/011 11/9/011 1/5/011 1/5/011 Sales Price $156,000 $1,000 $17,000 $10,000 $168,000 $17,000 $168,000 $11,000 Notes: Good Condition Decent Shape Partial Reno Decent Shape Pics" button to select a picture to insert. If no pic is available, then click inside this box and hit "delete" to delete this text. Comp Comp Pics" button to select a picture to insert. If no pic is available, then click inside this box and hit "delete" to delete this text. Comp 6 Comp 7

5 3710 Westcliff Ave Richmond, VA 3 Living Room Dining Room Kitchen (needs updating) Tankless Gas Water Heater! Bedroom Bath (needs updating) Bedroom Spacious Backyard