New Silver Flip Highlight: Mashpee, Massachusetts
Fix and flip projects in the Cape Cod area of Massachusetts are quite popular with real estate investors, and looking at this property, it’s not hard to see why. The property in this case study is an example of a loan recently financed by New Silver for a 4 bedroom fix and flip project.
The property is located in the town of Mashpee, Massachusetts. Mashpee is a town with a population of around 15,000 and a median real estate price of $534,900, known for its beaches, wildlife refuges and is an hour away from the Boston metro area.
The property is a spacious 1,204 sqft single-family residence was built in 1967 and features 4 bedrooms, 2 baths and an incredible fireplace – great potential for selling to a growing family or as a vacation property in this popular destination.
Finding New Silver
Finding financing that is reliable, affordable and fair is one of the challenges real estate investors face when starting new projects. Following a detailed appraisal and inspection, the investor was approved for a loan and financed by New Silver for a loan amount of $199,800, out of which, $58,000 was reserved for construction. New Silver was able to assist the investor with his fix and flip investment by providing funding quickly, and worked with the investor to make sure the project kicked off on time, and construction was progressing.
Address 20 Coombs Lane, Mashpee Massachusetts
Strategy Fix and Flip
Loan Amount $199,800
Terms 12 months
LTV (Loan To Value) 65%
ARV (After Repair Value) $294,000