Listing photoMemphis, TN 38128 · MLS 10228945
"Cash or hard-money only; no financed offers. Property will not qualify for conventional, FHA, or VA financing."
3608 Russelwood Dr is a 4-bedroom, 1-bath home in Memphis, Tennessee listed at $59,900 with 1,263 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 ($5,990), we fund the $56,835 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 Tennessee or our Tennessee hard money lending page.
From the listing. Investor special! This 4-bedroom home with a 1-car attached carport offers an opportunity for your next renovation project. Sold strictly as is, where is. Cash or hard-money only; no financed offers. Property will not qualify for conventional, FHA, or VA financing.
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 | $5,990 (10%) | |
| Loan at closing | $53,910 | |
| Cosmetic renovation, rough estimate* | We fund $54,070 | |
| Total loan | $107,980 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($1,620) | |
| Appraisal | Required | |
| Estimated monthly interest | $899 at full draw | |
| Cash to close, rough estimate | $14,765 | |
Rough estimates at the list price of $59,900 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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Hard money welcome"The property is being offered as a short sale and is best suited for cash, hard money or renovation financing due to its current condition."
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