Listing photoDes Moines, IA 50310 · MLS 752545
"* * * * Cash only * * * *"
2710 Merle Hay Rd is a 1-bedroom, 1-bath home in Des Moines, Iowa listed at $48,000 with 480 square feet, built in 1936. 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 20% down ($9,600), we fund the $52,800 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 Iowa or our Iowa hard money lending page.
From the listing. Investor Special. This property needs a complete rehab from top to bottom and is being offered as an opportunity to restore, redesign, and bring new life to a home with untapped potential. Bring your tools, your contractor, and your imagination! Cash 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: 20% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $9,600 (20%) | |
| Loan at closing | $38,400 | |
| Full renovation, rough estimate* | We fund $49,800 | |
| Total loan | $88,200 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,323) | |
| Appraisal | Required | |
| Estimated monthly interest | $734 at full draw | |
| Cash to close, rough estimate | $18,313 | |
Rough estimates at the list price of $48,000 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 $110 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.
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Cash or hard money only"Cash or hard money only."
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