Stone Mountain, GA 30083
YDL’s borrower bought this 4 sided brick 3 bedroom ranch with a full basement and a screened in porch and garage, situated near Stone Mountain Park, for $45,000. YDL obtained a Broker Price Opinion, which valued the property at $75,000. On this basis, YDL lent $40,000 to the borrower in order to buy the property, and the borrower paid all closing costs. The loan was secured by means of a first lien (mortgage) over the property. The borrower cleaned the property out, tidied the garden, and sold the property to an investor for $74,000. The whole transaction – from closing to closing – took only 24 days! The gross return over this period was 8%, and the gross annualised return was 123%.
The gross return on this $40,000 loan was 8%…
Over a period of just 24 days!
Use the map to get an idea of the area. For security purposes we have not identified the actual property on the map.
|Loan duration (Months)||0.8|
|Gross return over loan period||8%|
|Gross annualised return||123%|