Investment Opportunity · Hard Money Financing

350 Wrexham AveColumbus, Ohio

Columbus, OH 43223

List price
$80,000
2 bd / 1 ba
Bedrooms / baths
720 sq ft
Living area
1942
Year built
6,534 sq ft
Lot

"INVESTOR SPECIAL! Great opportunity for an investor looking to add another property to their rental portfolio. This home offers plenty of potential and is being sold AS-IS, allowing the next owner to make updates and improvements to fit their investment strategy. Several major components have been updated around 2017, including the roof and water heater, with HVAC components also appearing to date to approximately the same period. Whether you're looking for your next rental property or investment project, this could be a great opportunity to build equity and add another door to your portfolio. Seller will make no repairs. Buyer to perform their own due diligence"

Listed by Kara Kehoe Red 1 Realty (614) 585-9020

350 Wrexham Ave is a 2-bedroom, 1-bath home in Columbus, Ohio listed at $80,000 with 720 square feet, built in 1942. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($8,000), we fund the $32,400 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Ohio or our Ohio hard money lending page.

From the listing. INVESTOR SPECIAL! Great opportunity for an investor looking to add another property to their rental portfolio. Sold AS-IS. Roof and water heater updated around 2017. Seller will make no repairs.

01 - Price This Property

Hard money financing on 350 Wrexham Ave: what you qualify for.

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.

List price $80,000
State OH

Type a number, like 720. A ballpark is fine and nothing is pulled. Leave it empty if you have no score.

Flips, rentals bought and sold, or builds. Decides the down payment.

Our super rough estimate at $45 per sq ft. Put in your contractor's number if you have one.

The loan stays under 75% of it. Leave blank to size on the price alone.

  1. 1. Your score740Qualifies, high-score terms
  2. 2. Your experience1 to 2 projectsTier 2: 10% down
  3. 3. Down payment10% down$8,000 at closing
You qualifyAt a 740 score with 1 completed project, you qualify for 10% down on this property with the renovation funded.
Fix and flip, experienced

10% down

We fund 100% of the renovation. Closes in 2 weeks.

Cash to close, rough estimate $13,956
Loan at closing $72,000
Rate, interest only from 9.75%
  • A 740 or better score on a purchase under $750,000 gets the high-score terms: the loan can reach 90% of after-repair value instead of 75%.
  • Experience Tier 2 on 1 completed project in three years: 10% down, 100% of the renovation funded.
02 - The Numbers at Closing

350 Wrexham Ave priced at the list price.

ItemFix and flip: 10% down
At closing
Qualifies as enteredYes
Buyer down payment$8,000 (10%)
Loan at closing$72,000
Cosmetic renovation, rough estimate*We fund $32,400
Total loan$104,400
Rate, interest onlyfrom 9.75%
Points1.5 ($1,566)
AppraisalRequired
Estimated monthly interest$848 at full draw
Cash to close, rough estimate$13,956

Rough estimates at the list price of $80,000 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 is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.

We are the lender, not the listing agent. This property is listed by Kara Kehoe, Red 1 Realty ((614) 585-9020). To see it or make an offer, contact Kara directly, or work with your own buyer's agent. The numbers on this page are simply what our financing would look like on this property. Viewing them is not a commitment to borrow from us, and you are free to finance the purchase however you choose. We do not represent buyers or sellers.

More hard money deals in Columbus All Ohio opportunities Hard money lender in Ohio Fix and flip loans Every live opportunity

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