302 Oak Leaf CirHoover, Alabama

Hoover, AL 35244 · MLS 21465266

List price

$269,900

3 bd / 2.5 ba
Bedrooms / baths: 2,044 sq ft
Living area: 1986
Year built: 26,136 sq ft
Lot

"FIXER-UPPER in Russet Woods! INVESTORS, it's hard finding properties with potential but this one has it."

Listed by Jessica Parson Russell Realty & Associates (205) 527-4287

302 Oak Leaf Cir is a 3-bedroom, 2.5-bath home in Hoover, Alabama listed at $269,900 with 2,044 square feet, built in 1986. 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 ($26,990), we fund the $224,840 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. See every hard money opportunity in Alabama or our Alabama hard money lending page.

From the listing. FIXER-UPPER in Russet Woods! INVESTORS, it's hard finding properties with potential but this one has it. Extensive rehab is needed but this colonial style home has great bones. Needs all new flooring, paint, appliances, kitchen and bath remodel. NO LOWBALL OFFERS. AGENT-OWNED, owner has never lived in home.

01 - Price This Property

Hard money financing on 302 Oak Leaf Cir: 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 $269,900

State AL

Your credit score, approximate

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

Investment projects you completed in the last 3 years

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

Renovation budget

Our super rough estimate at $110 per sq ft. Put in your contractor's number if you have one.

After-repair value, if you know it

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

1. Your score740Qualifies, high-score terms
2. Your experience1 to 2 projectsTier 2: 10% down
3. Down payment10% down$26,990 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 $38,396

Loan at closing $242,910

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

302 Oak Leaf Cir priced at the list price.

Item		Fix and flip: 10% down
At closing
Qualifies as entered	Yes
Buyer down payment	$26,990 (10%)
Loan at closing	$242,910
Full renovation, rough estimate*	We fund $224,840
Total loan	$467,750
Rate, interest only	from 9.75%
Points	1.5 ($7,016)
Appraisal	Required
Estimated monthly interest	$3,800 at full draw
Cash to close, rough estimate	$38,396

Rough estimates at the list price of $269,900 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 $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.

We are the lender, not the listing agent. This property is listed by Jessica Parson, Russell Realty & Associates ((205) 527-4287). To see it or make an offer, contact Jessica 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.

Request the Term Sheet Call (323) 304-4978

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

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$71,200

3 bd · 1 ba · 1,110 sq ft · Built 1967

"NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, one bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing."

Pricing and profitability Sign in to see

Renovation estimate, rough $49,950

Listed by Dana Rowell, Real Home Svc and Solutions

See the listing and the financing