Closed investments
$ 73,500
$ 73,500

Loan Strategy:
Renovate & Refinance
Renovate & Refinance

Location:
7929 S Manistee Ave, Chicago, IL 60617, USA
7929 S Manistee Ave, Chicago, IL 60617, USA
Summary
- About this property: The borrower purchased a single family house located at located at 7929 South Manistee Avenue, Chicago, IL for $37,500.00. The borrower will renovate the property for $36,000.00. The appraised market value of the property after renovations are completed will be $140,000.00. York Funding lent the borrower $76,500.00 to purchase and renovate the property. The borrower will complete the renovations and sell or refinance the property to repay the loan.
Rate Detail
- York Mortgage Rate: 11.0%
- Management Fee: 1.5%
- Net Investor Rate: 8.5%
Investment Overview
- Originator: York Funding LLC
- Lien Type: First Mortgage
- Repayment Type: Interest Only
- Origination Date: 08/16/19
- Maturity Date: 08/16/20
Investment Purpose & Strategy
- Loan Purpose: Renovation & Refinance
- Loan Strategy: Refinance
- Property Purchase Price: $ 37,500
- Construction Budget: $ 36,000
LTV Details
- Market Value: $ 140,000
- Loan to Value: 53%
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Description
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