Ohio Hard Money Loan With Low Cash To Close
Looking for a deal with low cash-to-close? How about $81? That’s right, $81!
Do Hard Money provided funding for this incredible, 100% financing deal. Deborah R. found an amazing four-bedroom, two-bathroom property in Reynoldsburg, OH. This home was a run-down terror in the heart of a phenomenal neighborhood. Buyers line up around the block to try to get into this beautiful Reynoldsburg area. There was a TON of rehab work to be done, but it didn’t faze Deborah and certainly didn’t faze Do Hard Money. We funded 100% of the $27,000 purchase price as well as 100% of the rehab costs. The borrower did not have to put any money down to buy the house.
Because Do Hard Money extends loans for up to 70% of the After Repair Value (ARV) on a property, the purchase, rehab and most other loan costs (like interest and points) were funded on this deal. Therefore, the deal required only $81 cash-to-close at the closing table.
Deborah got straight to work and boy, did she have her work cut out for her! When she first purchased this property, it was actually missing drywall and insulation throughout the house! Deborah performed a full rehab on this house, turning into a dream property. Not only did she add the required insulation and restore the drywall, but she also gave the kitchen a full upgrade. She put in new, gorgeous matching cabinets and granite counter tops. She also added stainless steel appliances and new tile flooring. Deborah updated the bathrooms with new vanities and fixtures. Upon completion of the rehab, Deborah earned an overall estimated profit of $28,074.
Finding a deal with excellent numbers like this can take a lot of work. However, don’t lose hope – 100% financing deals are out there in abundance. This Reynoldsburg, Ohio deal is a great example of what Do Hard Money can do for you.