11 Dec WAC Closes ‘Fix & Flip’ Loan for Stratford, CT Real Estate Investor
December 11, 2017: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $70,000 “fix and flip” loan for a small Connecticut based real estate investor on an investment property in Stratford, Connecticut. The loan is secured by a first mortgage on the property in Stratford and was funded by one of WAC’s private investors with an underlying LTV of 50%.
The borrower, who purchased this property through a foreclosure at a very favorable price, will renovate the property and list it for sale within the next six months or so and will pay off WAC’s bridge loan upon the sale of the property.