Listing photoBaker, LA 70714 · MLS 200QRY
"Due to its current condition, the property is unlikely to qualify for traditional financing; therefore, cash offers only."
947 Johnston St is a 3-bedroom, 1-bath home in Baker, Louisiana listed at $85,000 with 1,079 square feet, built in 1970. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 25% down ($21,250), we fund the $48,555 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Louisiana or our Louisiana hard money lending page.
From the listing. This charming home offers plenty of potential for the right buyer! The property does require some TLC and is being sold AS-IS. Due to its current condition, the property is unlikely to qualify for traditional financing; therefore, cash offers only.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Fix and flip: 25% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $21,250 (25%) | |
| Loan at closing | $63,750 | |
| Cosmetic renovation, rough estimate* | We fund $48,555 | |
| Total loan | $112,305 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($1,685) | |
| Appraisal | Required | |
| Estimated monthly interest | $912 at full draw | |
| Cash to close, rough estimate | $27,325 | |
Rough estimates at the list price of $85,000 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down takes a 740 score or a deeper track record; a first flip under 720 puts 25% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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Cash or hard money only"Cash or renovation financing only. Will not qualify for conventional, FHA, or VA financing."
Cash or hard money only"Will not qualify for conventional financing - cash or renovation financing only."
Cash or hard money only"Due to its current condition, the home will not qualify for RD, VA, FHA, or standard Conventional financing."
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