With his $158,400 blanket loan, this first time investor will purchase and renovate two single family homes in Baltimore. He will buy one property for $105k, invest $47k for rehab, and sell for $265k in September. The house is in good shape; most of the funds will go toward updating the electric and plumbing, installing new HVAC, and expanding and upgrading the kitchen. For the second property, he’ll purchase at $49k, put in $6k of work, and hold it for rent. While it may be ambitious for a new investor to take on two projects at once, this borrower has experience assisting others on fix and flip projects that will help him run the simultaneous renovations without issue.
