Arcadia is a hot location for real estate investors right now and we closed this loan in just 24 hours. Older houses in nice neighborhoods and just a 5 minute drive from Downtown Scottsdale makes big profit potential for investors. Since the acquisition is at a higher price point and the old houses making for a large rehab budget, our Major Remodel/Addition program is perfect for the Arcadia District. In this program we fund 80% of the acquisition cost as well as 80% of the rehab costs which is a huge benefit for the properties that have a lot of line items to check off during the rehab process.
The terms given on this specific loan are as follows:
Loan Amount: $993,250
Interest Rate: 12.9%
Loan Type: Purchase
Building Type: SFR