Hard Money Loan for Minnesota Fix and Flip.
This fixer upper was built in 1887 and is located in St Paul, Minnesota. The borrower needed quick funds for the purchase price of $55,000 and for the $25,000 in renovation costs. TNS Loans was able to fund a hard money loan within a few days for $90,000 as the After Repair Value was $130,000. Because the borrower found the right deal, he did not have to invest any of his own money into this fix and flip and he will be making a significant profit once the house sells in just a few months.
The planned renovations include new flooring such as tile and carpet throughout. The whole house will get a new paint job inside and out as well as all new interior doors. The kitchen will be completely remodeled with new cabinets, granite counter tops, sink and appliances. The two bathrooms will have new vanities, sinks, and toilets. Also, all new windows will be installed and the old gravity air heating unit will be replaced with a new forced air unit.
TNS Loans is a private hard money lender based in Littleton, CO. TNS Loans focuses on loans that don’t conform to conventional bank guidelines. We can only lend on commercial properties which need funding for fix and flip, construction, or short-term bridge loans. We currently lend in Colorado, Kansas, Missouri, and Minnesota. Give us a call at 303-539-3000 and let’s discuss your options!