Listing photoGrand Rapids, MI 49546 · MLS 26050874
"Cash buyers only."
2630 Chatham Woods Dr SE is a 2-bedroom, 2.5-bath home in Grand Rapids, Michigan listed at $199,900 with 1,368 square feet, built in 1974. 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 10% down ($19,990), we fund the $61,560 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 Michigan or our Michigan hard money lending page.
From the listing. Located in Chatwick Hills in Cascade Township, this 2-bedroom, 2.5-bath end-unit condo is being sold as-is and offers an opportunity for a buyer to build equity. The basement has a water leak, and the hot water heater is currently not functioning. The carport is also in the process of being rebuilt by the association. Conveniently located just off Kraft Avenue with easy access to 28th Street and Cascade Road. Buyers should be prepared for repairs and improvements. **Cash buyers only. Property is being sold as-is.**
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: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $19,990 (10%) | |
| Loan at closing | $179,910 | |
| Cosmetic renovation, rough estimate* | We fund $61,560 | |
| Total loan | $241,470 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($3,622) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,010 at full draw | |
| Cash to close, rough estimate | $28,002 | |
Rough estimates at the list price of $199,900 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.
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