2023 started out great for a Texas real estate investor and Longleaf client who recently sold his fix and flip project after 10 days on the market.
Using a short-term residential hard money loan from Longleaf Lending, the 1,600-sq.ft. property in Katy, Texas was purchased for $165,000, rehabbed for $45,000 and sold for $265,000.
The loan from Longleaf Lending financed the acquisition and 100% of the rehab budget.
The real estate investment project brought in a gross profit of $43,000.
Here are some before and after photos of this fix and flip project.
Looking to fund a real estate investment? Talk to us at Longleaf Lending. We offer different kinds of real estate loans and can help fund your project in as little as two days.
For more information, check out our loan products or apply for pre-approval using the button below.