Chatham/Rosemoor Flip
			Chicago, IL 60620
			Solid brick structure in the Chatham/ Rosemoor area close to public transportation, restaurants, expressway, and a strong retail corridor.
			Exclusively Presented By:
			Milton Peggs
			Castle Building Solutions LLC
			312-344-3554
			milton.peggsreo@gmail.com
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SHORT-TERM LENDER FUNDING REQUEST (FLIP)

Chatham/Rosemoor

Property Address:

Presented by:

Property City, State, ZIP:

Milton Peggs Chicago, IL 60620

Bedrooms: 3  Baths: 2  Sq.Feet: 1062  Built: 1958

Castle Building Solutions LLC

Notes:

312-344-3554

milton.peggsreo@gmail.com

PURCHASE/LOAN ASSUMPTIONS

% of ARV

Timeline Assumptions:

134,874.00 After-Repair Value (ARV)

Purchase Price

39,900.00

29.58%

Time to Complete Rehab

3 Months

Rehab Costs

20,000.00

14.83%

Time to Complete Sale

3 Months

Closing/Holding Costs

3,990.00

2.96%

Total Time:

6 Months

Total  Funds Needed:

43,890.00

32.54%

Points/Interest (Deferred)

2,700.12

2.00%

Total Loan Amount

47,152.32

34.96%

Interest Rate Offered to Lender

12.00%

I am seeking short-term funding for 3 months at 12% paid at the end of 3 months. Note....the complete rehab and sale of property are simultaneously for a total of 3 months, not 6 months. There is a vetting process involved as well. Project Description:

Additional Notes:

This project is in conjunction with a non-for-profit organization. Land of Lincoln ventures based in Cheyenne, Wyoming. Thier goal is to provide quality affordable housing in the state of Illinois. They will be providing the additional funds to complete the project and also will provide a guaranteed buyer at the end of 90days. For more info give me a call

PROJECTED FINANCIAL RESULTS FOR LENDER: Total Interest Income 2,700 Points, Fees - Profit Split to Lender Total Income to Lender 2,700 Cash-on-Cash Return (annualized) 12.30% Internal Rate of Return (annualized) 12.68%

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