Canadian Professor purchases Fix-and-Flip property in Texas

The Client

Our client was a university professor living in Canada. He found a property in Texas that needed some repairs and wanted to take advantage of the low purchase price with the intention to ‘Flip’ it. The property being situated in a good neighborhood within close proximities to good schools and several amenities, convinced our client that he could successfully flip it.

How We Helped

Being a Foreign National caused several problems for our client as banks could not lend to him. After several rejections, our client was referred to us by a lender. Using AM Fix-‘N’-Flip loan program, our client purchased the property for $200,000, and we were able to secure a short-term loan amount of $195,000 based on the after-repair-value (ARV).

Loan Details

NationalityProperty ValueLoan AmountARVRate
Canadian Citizen $200,000 $195,500 65% 8.25%
Term Address Property TypePurposeLoan Type
18 Months Fort Worth, Texas Single-Family Home Fix-and-Flip Residential
Nationality Canada Citizen
Property Value$200,000
Loan Amount$195,000
ARV65%
Rate8.25%
Term18 Months
State Fort Worth, Texas
Property TypeSingle-Family Home
Purpose Fix-and-Flip
Loan TypeResidential